Last year we were able to use the education tax credit, and that resulted in a $4K credit, which put us close to break even on taxes withheld and taxes owed. This year we made $13K over the income limit that determines qualification, which means our we can't use the $4K tax credit (we made an extra $13K, and our actual taxes went up by $4K. Not even the highest tax bracket in America sees that % in tax increase year over year).
Is there anything we can do to reduce our income for 2019 from $173K to $160K? Can we purchase IRAs? Married filing jointly, both over 50 in 2019.
