“How to Save Money on Your Taxes Next Year”

Financial Horizons: Insights for Building Wealth and Securing Your Legacy

By Dr. Jose G. Cardenas, Chief Tax Strategist at The C & R Group, LLC

Every dollar saved in taxes is a dollar you can reinvest into your business, family, or future. Whether you're a wage earner, business owner, or self-employed, planning for next year's tax season starts now—not in April. The key to maximizing your refund or reducing what you owe lies in preparation, awareness, and the strategic use of deductions and credits.

Here’s how to start saving money on your taxes before the year ends.

1. Claim All of Your Deductions

This might sound obvious, but you'd be surprised how often people miss eligible deductions. These can include:

• Mortgage interest
• Medical expenses
• Student loan interest
• Home office costs
• Business expenses (for entrepreneurs and freelancers)

Deductions directly reduce your taxable income. The more you claim (accurately), the less you owe. Keep thorough documentation for each deduction so you’re ready to support it if the IRS comes knocking.

2. Take Advantage of Tax Credits You May Qualify For

Credits are even more powerful than deductions because they reduce your tax bill dollar for dollar. Depending on your situation, you might qualify for:

• Earned Income Tax Credit (EITC)
• Child Tax Credit
• Lifetime Learning Credit
• American Opportunity Tax Credit
• Clean energy or vehicle tax credits

Review your eligibility yearly. Changes in income, education, or family size can affect which credits apply.

3. Keep a Detailed List of Charitable Donations and Deductible Expenses

If you give to nonprofits, churches, or qualified charities, those donations may be deductible. This includes not just cash donations, but also donated goods, mileage driven for charitable purposes, and even volunteer-related expenses.

Pro Tip:
Create a digital or physical “Tax Folder” now. Every time you make a charitable donation or incur a deductible expense, drop a receipt in that folder. When tax season rolls around, you won’t be scrambling.

4. Handle Tax-Related Issues Before Year-End

Waiting until tax time to deal with financial or IRS issues is like ignoring a leaking pipe until the ceiling caves in. Take care of outstanding IRS notices, underpayment penalties, or estimated tax shortfalls before December 31.

Why? Because many tax-saving moves—like retirement contributions, charitable donations, or business expenses—must be completed by year’s end to count for the current tax year.

Bottom Line

Saving money on taxes next year starts with what you do this year. Smart planning now means fewer headaches, more deductions, and potentially a larger refund come April.

Let us help you make the most of every credit, deduction, and opportunity available.

📅 Book your personalized tax strategy session today:
👉 https://api.leadconnectorhq.com/widget/booking/T4UHUjCijCtIB3rwoTDI

🌐 Learn more at: www.thecrgroupllc.com

About the Author

Dr. Jose G. Cardenas is a retired U.S. Army Finance Officer and the Chief Tax Strategist at The C & R Group, LLC. With over 20 years of financial expertise, a Doctorate in Business Administration, and deep experience in tax planning and legacy building, Dr. Cardenas helps individuals and entrepreneurs maximize their returns and secure their financial futures.

📌 Disclosure: This article is for educational and informational purposes only. It does not constitute personalized legal, tax, or investment advice. Tax advisory services are offered through The C & R Group, LLC. Insurance and financial strategies may be provided through Dr. Jose Cardenas in his role as a licensed financial professional with Experior Financial Group.