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Effective tax optimization strategies for every income level

Tax optimization strategies vary by income level, but everyone can reduce their tax burden. Most taxpayers can save a few thousand dollars per year through basic techniques, while high earners can save significantly more with advanced strategies. Domain Money shares some key takeaways to get started.

Understand your taxable income: Knowing what counts—and what reduces it—gives you more control over your finances and can help you make strategic choices throughout the year.

Maximize retirement contributions: Contributing to a 401(k), an individual retirement account, or a health savings account can lower taxable income today while building your future nest egg.

Take advantage of deductions a

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