How do I decrease the amount of taxes I owe

4 replies
45 views

I owed a lot this year

TurboTax Deluxe Online

CatinaT1

Alumni - Intuit

It depends on your situation. Did you not have enough withholdings taken out of your wages? Are you self employed? We need more information on your tax situation to be able to answer.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

Mike9241

Level 15

First compare your 2022 and 2023 returns line fior line. perhaps you made an error. Get this resolved ASAP because you are incurring penalties and interest for any late payment and filing

Mike9241

TomD8

Alumni - Champ

One of the best ways to lower your tax bill is to contribute as much as you can (up to the allowable limit) to your employer’s 401k plan, if they have one. Every dollar you contribute to your 401k is a dollar that isn’t taxed this year. Plus you’re building towards your future.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.