{"id":69745,"date":"2023-04-19T12:49:16","date_gmt":"2023-04-19T07:19:16","guid":{"rendered":"https:\/\/www.the-next-tech.com\/?post_type=web-story&#038;p=69745"},"modified":"2023-04-19T12:49:21","modified_gmt":"2023-04-19T07:19:21","slug":"tax-planning-importance-and-benefits","status":"publish","type":"web-story","link":"https:\/\/www.the-next-tech.com\/web-stories\/tax-planning-importance-and-benefits\/","title":{"rendered":"Tax Planning: Importance and Benefits"},"content":{"rendered":"<p><html amp=\"\" lang=\"en\"><head><meta charSet=\"utf-8\"\/><meta name=\"viewport\" content=\"width=device-width,minimum-scale=1,initial-scale=1\"\/><script async=\"\" src=\"https:\/\/cdn.ampproject.org\/v0.js\"><\/script><script async=\"\" src=\"https:\/\/cdn.ampproject.org\/v0\/amp-story-1.0.js\" custom-element=\"amp-story\"><\/script><link href=\"https:\/\/fonts.googleapis.com\/css2?display=swap&amp;family=Merriweather%3Awght%40700&amp;family=Roboto%3Awght%40700\" rel=\"stylesheet\"\/>\n<style 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id=\"el-c8f2f0b5-53a3-480a-a633-392e85bd9dc1\">\n<h2 class=\"fill text-wrapper\" style=\"white-space:pre-line;overflow-wrap:break-word;word-break:break-word;margin:0.2951456310679609% 0;font-family:&quot;Merriweather&quot;,serif;font-size:0.517799em;line-height:1.2;text-align:center;padding:0;color:#000000\"><span class=\"ez-toc-section\" id=\"Tax_Planning_How_To_Minimize_Tax_Liabilities\"><\/span><span><span style=\"font-weight: 700; color: #a4133c\">Tax Planning: How To Minimize Tax Liabilities<\/span><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><\/amp-story-page><amp-story-page id=\"d3c309f0-8546-402a-a6f2-dda66461a5d7\" auto-advance-after=\"11s\"><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-1e30fd69-cac3-403e-9047-c9eb78c85d52\",\"keyframes\":{\"opacity\":[0,1]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.2, 0.6, 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style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0;border-radius:0.6535947712418301% 0.6535947712418301% 0.6535947712418301% 0.6535947712418301% \/ 1.1299435028248588% 1.1299435028248588% 1.1299435028248588% 1.1299435028248588%\" id=\"el-4b414d00-7778-4db9-84be-126172fbd75e\">\n<h3 class=\"fill text-wrapper\" style=\"white-space:pre-line;overflow-wrap:break-word;word-break:break-word;margin:-0.09650735294117635% 0;font-family:&quot;Roboto&quot;,&quot;Helvetica Neue&quot;,&quot;Helvetica&quot;,sans-serif;font-size:0.339806em;line-height:1.2;text-align:center;padding:0;color:#000000\"><span class=\"ez-toc-section\" id=\"Its_essential_to_understand_your_tax_obligations_and_what_taxes_youre_required_to_pay_This_includes_income_tax_property_tax_sales_tax_and_other_taxes_that_may_apply_to_your_specific_situation\"><\/span><span><span style=\"font-weight: 700; color: #d67355\">It&#8217;s essential to understand your tax obligations and what taxes you&#8217;re required to pay. This includes income tax, property tax, sales tax, and other taxes that may apply to your specific situation.<\/span><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><\/amp-story-page><amp-story-page id=\"1b2631f1-94d2-4727-8815-7d5144949587\" auto-advance-after=\"11s\"><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-b136e633-5bc2-44b3-92d3-331d66859d4a\",\"keyframes\":{\"opacity\":[0,1]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.2, 0.6, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-8d562b71-7a98-4480-9268-bf54c1eaaea1\",\"keyframes\":{\"transform\":[\"translate3d(-98.34906%, 0px, 0)\",\"translate3d(0px, 0px, 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0.6600660066006601% 0.6600660066006601% 0.6600660066006601% \/ 1.25% 1.25% 1.25% 1.25%\" id=\"el-ffd703bd-c36c-49b9-a4ba-45d4e3f78a3a\">\n<h3 class=\"fill text-wrapper\" style=\"white-space:pre-line;overflow-wrap:break-word;word-break:break-word;margin:0.20693069306930656% 0;font-family:&quot;Merriweather&quot;,serif;font-size:0.355987em;line-height:1.2;text-align:center;padding:0;color:#000000\"><span class=\"ez-toc-section\" id=\"Take_advantage_of_tax-advantaged_accounts_such_as_IRAs_401ks_and_HSAs_to_save_for_retirement_and_pay_for_medical_expenses_with_pre-tax_dollars\"><\/span><span><span style=\"font-weight: 700; color: #fff599\">Take advantage of tax-advantaged accounts such as IRAs, 401(k)s, and HSAs to save for retirement and pay for medical expenses with pre-tax dollars.<\/span><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><\/amp-story-page><amp-story-page id=\"cff70b2f-3d6b-479d-a92a-deb383c8ac14\" auto-advance-after=\"11s\"><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-91a42d39-3b91-44c9-ba23-346b20e37b3b\",\"keyframes\":{\"opacity\":[0,1]},\"delay\":300,\"duration\":2000,\"easing\":\"cubic-bezier(.3,0,.55,1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-04762e61-75de-4adb-bfaf-6f1ac455f707\",\"keyframes\":{\"transform\":[\"scale(0.3333333333333333)\",\"scale(1)\"]},\"delay\":300,\"duration\":2000,\"easing\":\"cubic-bezier(.3,0,.55,1)\",\"fill\":\"forwards\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script 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class=\"page-fullbleed-area\">\n<div class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:-11.8932%;top:0;width:124.27184%;height:50%;opacity:1\">\n<div id=\"anim-91a42d39-3b91-44c9-ba23-346b20e37b3b\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:0;--initial-transform:none\">\n<div id=\"anim-04762e61-75de-4adb-bfaf-6f1ac455f707\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:1;--initial-transform:scale(0.3333333333333333)\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0\" class=\"mask\" id=\"el-6d6f0a21-84c7-4e24-9f5c-757474e55026\">\n<div style=\"position:absolute;width:100.50482%;height:100%;left:-0.25241%;top:0%\" data-leaf-element=\"true\"><amp-img layout=\"fill\" src=\"https:\/\/img.freepik.com\/premium-vector\/concept-tax-accounting-illustration_92916-172.jpg?w=826\" alt=\"concept-tax-accounting-illustration_92916-172.jpg\"><\/amp-img><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div style=\"position:absolute;pointer-events:none;left:12.13592%;top:58.41424%;width:75%;height:38.51133%;opacity:1\">\n<div id=\"anim-3cc6aa71-4950-4f76-ae6d-7cd83fee2a99\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:0;--initial-transform:none\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0;border-radius:0.6472491909385114% 0.6472491909385114% 0.6472491909385114% 0.6472491909385114% \/ 0.8403361344537815% 0.8403361344537815% 0.8403361344537815% 0.8403361344537815%\" id=\"el-b43106ca-66ca-40a0-b2c3-2a2305b3a801\">\n<h3 class=\"fill text-wrapper\" style=\"white-space:pre-line;overflow-wrap:break-word;word-break:break-word;margin:0.20291262135922294% 0;font-family:&quot;Merriweather&quot;,serif;font-size:0.355987em;line-height:1.2;text-align:center;padding:0;color:#000000\"><span class=\"ez-toc-section\" id=\"Deductions_are_a_way_to_reduce_your_taxable_income_You_can_maximize_your_deductions_by_keeping_track_of_all_your_expenses_including_business_expenses_medical_expenses_and_charitable_donations\"><\/span><span><span style=\"font-weight: 700; color: #a4133c\">Deductions are a way to reduce your taxable income. You can maximize your deductions by keeping track of all your expenses, including business expenses, medical expenses, and charitable donations.<\/span><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><\/amp-story-page><amp-story-page id=\"2860b428-d1b6-4184-a0a8-b8a477b4c4b1\" auto-advance-after=\"11s\"><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-00fd1b83-8327-46ef-9d60-08b7bac0f2ca\",\"keyframes\":{\"transform\":[\"translate3d(-87.54579%, 0px, 0)\",\"translate3d(0px, 0px, 0)\"]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.4, 0.4, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-129676fe-94e0-4ae5-b367-b0fde8fce9a7\",\"keyframes\":{\"opacity\":[0,1]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.4, 0.4, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-bdacea4f-9754-4429-bf3b-97ffabaf12cd\",\"keyframes\":{\"transform\":[\"scale(0.15)\",\"scale(1)\"]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.4, 0.4, 0.0, 1)\",\"fill\":\"forwards\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-a5516128-1ee1-4934-86a7-b32c7a03cb12\",\"keyframes\":{\"transform\":[\"translate3d(120.47782%, 0px, 0)\",\"translate3d(0px, 0px, 0)\"]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.4, 0.4, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-58fccc06-f04a-49eb-b201-04d35b4a4550\",\"keyframes\":{\"opacity\":[0,1]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.4, 0.4, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-529127a0-c018-40b4-9d4a-94cf43dac782\",\"keyframes\":{\"transform\":[\"scale(0.15)\",\"scale(1)\"]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.4, 0.4, 0.0, 1)\",\"fill\":\"forwards\"}]<\/script><\/amp-story-animation><amp-story-grid-layer template=\"vertical\" aspect-ratio=\"412:618\" class=\"grid-layer\"><\/p>\n<div class=\"page-fullbleed-area\" style=\"background-color:#eddbc3\">\n<div class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:0;top:-9.25926%;width:100%;height:118.51852%;opacity:1\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0\" class=\"mask\" id=\"el-14cac95f-7dd1-42c0-a29b-a08be2066852\">\n<div class=\"fill\" style=\"will-change:transform\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><amp-story-grid-layer template=\"vertical\" aspect-ratio=\"412:618\" class=\"grid-layer\"><\/p>\n<div class=\"page-fullbleed-area\">\n<div class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:-16.50485%;top:50.16181%;width:132.52427%;height:59.06149%;opacity:1\">\n<div id=\"anim-00fd1b83-8327-46ef-9d60-08b7bac0f2ca\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:1;--initial-transform:translate3d(-87.54579%, 0px, 0)\">\n<div id=\"anim-129676fe-94e0-4ae5-b367-b0fde8fce9a7\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:0;--initial-transform:none\">\n<div id=\"anim-bdacea4f-9754-4429-bf3b-97ffabaf12cd\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:1;--initial-transform:scale(0.15)\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0\" class=\"mask\" id=\"el-52d422f5-450c-4df9-ad27-7a624bdedc4a\">\n<div style=\"position:absolute;width:100.34253%;height:100%;left:-0.17126%;top:0%\" data-leaf-element=\"true\"><amp-img layout=\"fill\" src=\"https:\/\/img.freepik.com\/premium-vector\/long-term-investing-savings-retirement-fund-compound-interest-investment-growth-tax-time-reminder-concept-businessman-alarm-clock-put-more-dollar-coin-money-increase-his-savings_212586-1576.jpg?w=740\" alt=\"long-term-investing-savings-retirement-fund-compound-interest-investment-growth-tax-time-reminder-concept-businessman-alarm-clock-put-more-dollar-coin-money-increase-his-savings_212586-1576.jpg\"><\/amp-img><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div style=\"position:absolute;pointer-events:none;left:14.32039%;top:20.22654%;width:71.1165%;height:22.49191%;opacity:1\">\n<div id=\"anim-a5516128-1ee1-4934-86a7-b32c7a03cb12\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:1;--initial-transform:translate3d(120.47782%, 0px, 0)\">\n<div id=\"anim-58fccc06-f04a-49eb-b201-04d35b4a4550\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:0;--initial-transform:none\">\n<div id=\"anim-529127a0-c018-40b4-9d4a-94cf43dac782\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:1;--initial-transform:scale(0.15)\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0;border-radius:0.6825938566552902% 0.6825938566552902% 0.6825938566552902% 0.6825938566552902% \/ 1.4388489208633095% 1.4388489208633095% 1.4388489208633095% 1.4388489208633095%\" id=\"el-6681c373-c7db-4cb5-b001-5ab9252b9c1c\">\n<h3 class=\"fill text-wrapper\" style=\"white-space:pre-line;overflow-wrap:break-word;word-break:break-word;margin:0.22372013651877132% 0;font-family:&quot;Merriweather&quot;,serif;font-size:0.372168em;line-height:1.2;text-align:center;padding:0;color:#000000\"><span class=\"ez-toc-section\" id=\"If_you_have_some_control_over_when_you_receive_income_consider_timing_it_to_minimize_your_tax_liabilities\"><\/span><span><span style=\"font-weight: 700; color: #a4133c\">If you have some control over when you receive income, consider timing it to minimize your tax liabilities.<\/span><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><\/amp-story-page><amp-story-page id=\"08ab8601-a68b-4611-bd12-2cb3f59eaf67\" auto-advance-after=\"11s\"><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-159c46a6-6539-48b8-98ca-a78e90b80c5a\",\"keyframes\":{\"opacity\":[0,1]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.2, 0.6, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-21dcb104-ef52-49ca-95e8-8b851041c01c\",\"keyframes\":{\"transform\":[\"translate3d(0px, 104.76940%, 0)\",\"translate3d(0px, 0px, 0)\"]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.2, 0.6, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-38bee872-2ce5-4fd9-b917-84c946ae49b7\",\"keyframes\":{\"opacity\":[0,1]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.2, 0.6, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-b4c79260-5088-48d3-b6cb-54b3adf97ac1\",\"keyframes\":{\"transform\":[\"translate3d(-117.15211%, 0px, 0)\",\"translate3d(0px, 0px, 0)\"]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.2, 0.6, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-grid-layer template=\"vertical\" aspect-ratio=\"412:618\" class=\"grid-layer\"><\/p>\n<div class=\"page-fullbleed-area\" style=\"background-color:#fff\">\n<div class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:0;top:-9.25926%;width:100%;height:118.51852%;opacity:1\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0\" class=\"mask\" id=\"el-3d7f419c-2144-4682-abaf-2918bc925d14\">\n<div class=\"fill\" style=\"will-change:transform\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><amp-story-grid-layer template=\"vertical\" aspect-ratio=\"412:618\" class=\"grid-layer\"><\/p>\n<div class=\"page-fullbleed-area\">\n<div class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:-1.21359%;top:37.37864%;width:102.91262%;height:68.60841%;opacity:1\">\n<div id=\"anim-159c46a6-6539-48b8-98ca-a78e90b80c5a\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:0;--initial-transform:none\">\n<div id=\"anim-21dcb104-ef52-49ca-95e8-8b851041c01c\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:1;--initial-transform:translate3d(0px, 104.76940%, 0)\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0\" class=\"mask\" id=\"el-ad658c0a-8e20-4630-abd5-ab396f736b47\">\n<div style=\"position:absolute;width:100%;height:100%;left:0%;top:0%\" data-leaf-element=\"true\"><amp-img layout=\"fill\" src=\"https:\/\/img.freepik.com\/free-vector\/desktop-tax-filing-software-abstract-concept-illustration_335657-5143.jpg?w=740&amp;t=st=1681887193~exp=1681887793~hmac=1b3d52893e36db98db408bedb07752b66fd169dae815765e64e61b7c50f730bc\" alt=\"desktop-tax-filing-software-abstract-concept-illustration_335657-5143.jpg\"><\/amp-img><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div style=\"position:absolute;pointer-events:none;left:12.86408%;top:7.44337%;width:75%;height:29.93528%;opacity:1\">\n<div id=\"anim-38bee872-2ce5-4fd9-b917-84c946ae49b7\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:0;--initial-transform:none\">\n<div id=\"anim-b4c79260-5088-48d3-b6cb-54b3adf97ac1\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:1;--initial-transform:translate3d(-117.15211%, 0px, 0)\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0;border-radius:0.6472491909385114% 0.6472491909385114% 0.6472491909385114% 0.6472491909385114% \/ 1.0810810810810811% 1.0810810810810811% 1.0810810810810811% 1.0810810810810811%\" id=\"el-8968286f-73dc-4613-b320-57bc6aedd5b1\">\n<h3 class=\"fill text-wrapper\" style=\"white-space:pre-line;overflow-wrap:break-word;word-break:break-word;margin:0.20291262135922294% 0;font-family:&quot;Merriweather&quot;,serif;font-size:0.355987em;line-height:1.2;text-align:center;padding:0;color:#000000\"><span class=\"ez-toc-section\" id=\"Tax_credits_are_a_dollar-for-dollar_reduction_in_your_tax_liability_Some_popular_tax_credits_include_the_Earned_Income_Tax_Credit_Child_Tax_Credit_and_Education_Tax_Credit\"><\/span><span><span style=\"font-weight: 700; color: #a29970\">Tax credits are a dollar-for-dollar reduction in your tax liability. Some popular tax credits include the Earned Income Tax Credit, Child Tax Credit, and Education Tax Credit.<\/span><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><\/amp-story-page><amp-story-page id=\"9493f27c-6430-45e3-a88c-d00b6a53c8d7\" auto-advance-after=\"11s\"><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-5313e36f-4f55-42fc-993b-77a67c3e055a\",\"keyframes\":{\"opacity\":[0,1]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.2, 0.6, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-53bd8d74-e195-4b0a-99bf-62f7b3fb0efd\",\"keyframes\":{\"transform\":[\"translate3d(-90.56974%, 0px, 0)\",\"translate3d(0px, 0px, 0)\"]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.2, 0.6, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-e2b15501-edd2-4fb3-aecb-31a7c5196eda\",\"keyframes\":{\"opacity\":[0,1]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.2, 0.6, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-9636e97f-aa90-4d02-8972-3895b151c09b\",\"keyframes\":{\"transform\":[\"translate3d(118.30066%, 0px, 0)\",\"translate3d(0px, 0px, 0)\"]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.2, 0.6, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-grid-layer template=\"vertical\" aspect-ratio=\"412:618\" class=\"grid-layer\"><\/p>\n<div class=\"page-fullbleed-area\" style=\"background-color:#6d81fe\">\n<div class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:0;top:-9.25926%;width:100%;height:118.51852%;opacity:1\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0\" class=\"mask\" id=\"el-c23974d7-b2ee-436c-98b5-8a271a5fa12a\">\n<div class=\"fill\" style=\"will-change:transform\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><amp-story-grid-layer template=\"vertical\" aspect-ratio=\"412:618\" class=\"grid-layer\"><\/p>\n<div class=\"page-fullbleed-area\">\n<div class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:-11.65049%;top:44.98382%;width:123.54369%;height:55.01618%;opacity:1\">\n<div id=\"anim-5313e36f-4f55-42fc-993b-77a67c3e055a\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:0;--initial-transform:none\">\n<div 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