tax advantages
Deductions and credits
Tax advantages are benefits in the tax code that reduce what you owe—deductions, credits, exemptions, or deferrals.
Financial advisors speak of the tax advantages of retirement accounts, home ownership, or charitable giving.
The phrase often appears in discussions of wealth-building strategies: We invested in municipal bonds for the tax advantages.
- child tax creditTax reduction for parents
- savingsAccumulated money kept
- tax sheltersLegal liability reduction methods
- itemized deductionIndividually listed taxable expense
- standard deductionPreset tax-free income amount
credit · tax break · write off · file · depreciation · tax-deferred · deferral · municipal bonds · annuities · nest egg · rainy day fund · 401(k) · pension plans · pre-tax · Roth IRA · retirement planning · refund · retirement accounts
- health insurancepremium, deductible, copay, coverage, health insurance card
- partnershipspartnership, business partnership, alliance, joint venture, joint ventures
- retirement savingsretirement savings, retirement funds, 403b, retirement account, retirement fund
tax advantagestax penalties
Charges for tax violations
tax liabilities · double taxation · tax obligations · back taxes · tax assessments
tax advantagestax evasion
Illegally avoiding government dues