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Department of the Treasury Internal Revenue ServicePublication 907 Cat. No. 15308HTax Highlights for Persons With Disabilities For use in preparing2023 ReturnsFuture Developments For the latest information
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Maximize your contributions to retirement accounts like IRA or 401(k)
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What is maximizing tax benefits for?
Maximizing tax benefits is aimed at reducing taxable income and increasing the amount of tax deductions and credits that individuals or businesses can claim.
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Individuals and businesses that wish to optimize their tax liabilities and take advantage of available deductions, credits, and exemptions are required to file.
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The purpose is to legally minimize tax liabilities and ensure that taxpayers are utilizing all available resources to manage their finances efficiently.
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Taxpayers must report income, expenses, eligible deductions, tax credits, and other relevant financial information as required by the tax code.
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