If I asked you, "What are the most common ways people waste money?," how would you respond?

You might say, "paying for unused memberships and subscriptions", or "buying things you don't really need", or "letting food go bad."

These are all common ways of wasting money, and there are plenty more. But one thing that likely wouldn't appear on your list, but should, is "paying too much in income taxes."

Every dollar of deductions you can find will reduce your tax bill by 10 to 37 cents. Every tax credit you can dig up will lower your bill dollar for dollar.

But here's the thing with taxes: Once the year ends on December 31, many of your opportunities to save vanish with it. That's why you should always do a quick review during the last few months of the year to make sure you're not missing something that could save you hundreds, or even thousands.

That's what this week's "Money!" podcast is about. We're going to talk about how to save money next April with a quick review now. And we're going to do it without making your eyes glaze over.

As usual, my co-host will be financial journalist Miranda Marquit. Listening in and sometimes contributing is producer and novice investor Aaron Freeman.

Want more information? Check out these resources:
How One Hour Today Could Be Worth $1,000 Next Year
5 Year-End Moves to Make Now and Save Big at Tax Time
Barron's Strategies to Lower Your 2021 Tax Bill—and Line up Future Tax Savings
Kiplinger: 10 Year-End Moves to Lower Your 2021 Tax Bill
NerdWallet: 12 Tips to Cut Your Tax Bill This Year
Bankrate: 12 ways to lower your taxable income this year
CNBC: These year-end tax moves may help you save, regardless of what happens in Congress
US News:15 Legal Secrets to Reducing Your Taxes
To see Stacy's stocks, click here
Subscribe to the Money Talks News newsletter
Take our course The Only Retirement Guide You'll Ever Need
Take our course Money Made Simple
Miranda Marquit's website

If I asked you, "What are the most common ways people waste money?," how would you respond?
You might say, "paying for unused memberships and subscriptions", or "buying things you don't really need", or "letting food go bad."
These are all common ways of wasting money, and there are plenty more. But one thing that likely wouldn't appear on your list, but should, is "paying too much in income taxes."
Every dollar of deductions you can find will reduce your tax bill by 10 to 37 cents. Every tax credit you can dig up will lower your bill dollar for dollar.
But here's the thing with taxes: Once the year ends on December 31, many of your opportunities to save vanish with it. That's why you should always do a quick review during the last few months of the year to make sure you're not missing something that could save you hundreds, or even thousands.
That's what this week's <a href="https://www.moneytalksnews.com/podcasts/">"Money!" podcast</a> is about. We're going to talk about how to save money next April with a quick review now. And we're going to do it without making your eyes glaze over.
As usual, my co-host will be financial journalist <a href="https://www.moneytalksnews.com/author/mirandamarquit/">Miranda Marquit</a>. Listening in and sometimes contributing is producer and novice investor <a href="https://www.moneytalksnews.com/author/aaronfreeman/">Aaron Freeman</a>.
Want more information? Check out these resources:
<ul>
<li><a href="https://www.moneytalksnews.com/how-one-hour-today-could-be-worth-1000-next-year/">How One Hour Today Could Be Worth $1,000 Next Year</a></li>
<li><a href="https://www.moneytalksnews.com/30-minutes-now-can-save-you-1000-tax-time/">5 Year-End Moves to Make Now and Save Big at Tax Time</a></li>
<li>Barron's <a href="https://www.barrons.com/articles/lower-tax-bill-51634658442">Strategies to Lower Your 2021 Tax Bill&mdash;and Line up Future Tax Savings</a></li>
<li>Kiplinger: <a href="https://www.kiplinger.com/taxes/601738/year-end-moves-to-lower-your-2021-tax-bill">10 Year-End Moves to Lower Your 2021 Tax Bill</a></li>
<li>NerdWallet: <a href="https://www.nerdwallet.com/article/taxes/tips-save-taxes">12 Tips to Cut Your Tax Bill This Year</a></li>
<li>Bankrate: <a href="https://www.bankrate.com/taxes/how-to-lower-taxable-income/">12 ways to lower your taxable income this year</a></li>
<li>CNBC: <a href="https://www.cnbc.com/2021/09/23/consider-these-year-end-tax-moves-regardless-of-what-congress-does.html">These year-end tax moves may help you save, regardless of what happens in Congress</a></li>
<li>US News:<a href="https://money.usnews.com/money/personal-finance/articles/legal-secrets-to-reducing-your-taxes">15 Legal Secrets to Reducing Your Taxes</a></li>
<li><a href="https://docs.google.com/spreadsheets/d/1h09OsyC3tPHYoSxJEsmo97mciSKfA1w3IbsDRCWMLpQ/edit?usp=sharing">To see Stacy's stocks, click here</a></li>
<li>Subscribe to the <a href="https://www.moneytalksnews.com/#newsletter">Money Talks News newsletter</a></li>
<li>Take our course&nbsp;<a href="https://unb.moneytalksnews.com/retirement-guide/">The Only Retirement Guide You'll Ever Need</a></li>
<li>Take our course&nbsp;<a href="https://www.moneytalksnews.com/courses/money-made-simple/">Money Made Simple</a></li>
<li><a href="http://mirandamarquit.com/">Miranda Marquit's website</a></li>
</ul>

Welcome to Money Talks News: The Podcast, a podcast devoted to everything money: how to get it, how to grow it and how to keep it. From the creators of MoneyTalksNews.com, a leading source of personal finance news and advice since 1991.

Welcome to Money Talks News: The Podcast, a podcast devoted to everything money: how to get it, how to grow it and how to keep it. From the creators of MoneyTalksNews.com, a leading source of personal finance news and advice since 1991.

Money Talks News: The Podcast

10 Moves You Should Make Now to Lower This Year's Taxes

https://api.omny.fm/orgs/67ee9ddc-11a3-4cec-841d-ac9a015d5b41/clips/b0667f60-7dde-4917-a7e4-ade10133439d/transcript

Transcript

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