9 HUGE Tax Write Offs for Individuals (EVERYONE can use these)

Here are some of the most overlooked tax write-offs for individuals in 2023.

If you take advantage of the tax write-offs for individual taxpayers from this video, then it will surely help you to reduce your taxable income which in turn will reduce your tax burden.

So, in this video, I will cover exactly how

- The tax system works
- The standard deduction for 2022
- Reveal my most overlooked tax write-offs for individuals

Timestamps
Intro (0:00)
How the US Tax System Works (1:30)
The Standard Deduction (3:13)
Tax Write Off #1 (5:05)
Donor Advisor Fund (7:20)
Tax Write Off #2 (8:38)
Tax Write Off #3 (9:50)
Tax Write Off #4 (11:27)
Tax Write Off #5 (12:09)
Tax Write Off #6 (12:49)
Tax Write Off #7 (14:27)
Tax Write Off #8 (15:28)
Tax Write Off #9 (16:31)

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The United States has a progressive tax system which means that people with higher taxable incomes are subject to higher rates, and people with lower taxable incomes are subject to lower federal income tax rates.

This helps make the tax system fair.

Please be sure to give this video a like and subscribe to our channel so you don't miss out on future videos!

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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).

[cindywolph]

I'm an attorney tax preparer and I love your presentation--you seem to be as enthusiastic about trying to inform people/explain the tax system as I feel. Thank you for posting these videos!

[aniljoseph]

1:charitable donations
2: vehicle sale/property tax
3: home deductions
4: Residential tax credit
5: education or educator expenses
6: invest into 401k or IRA plan
7: medical expenses
8: HSA
9: child tax credit or dependent tax credit

[stanpersful]

Great job. I deal with this on a daily and although I can't disclose what I do in the IRS, I know the struggle people deal with and you are very helpful explaining these. I just finished watching a video from another individual and he was so off base I pray nobody watched it. hehe.

[Talia_IceCreamPaints]

This video was excellent! Extremely well laid out from an Instructional Standpoint.

[stellaanderson]

Great video! Not too complicated and over my head I’ll be watching more and sharing ❤

[talori]

So glad I found this channel! Very good information.

[THPeace]

Well done! Facts & examples. Bravo!

[brandonarchi]

Great video. Easy to follow and informative.

[theglamourplanner]

I always go back to your videos. So much valuable information Tfs 😊

[shelbyjoneff]

I didn’t know about the medical write off! I have chronic health issues and spend thousands each year. Thank you!

[natalie]

This was really helpful--especially the HSA account and property tax information. Thank you.

[miguelbohorquez]

Great video. Every day I learn something new.

[jseeqvg]

Thank you for explaining EVERYTHING so clearly most others dont even cover the teachers allowance

[xnavyro]

I’m not a CPA & love your insight into taxes! I am, however, an engineer & understand math. While taking a spreadsheet class in my early years, I discovered how the tax system works & realized what my father in law told me, “it’s not what you make that makes you rich, it’s what you keep”! Once I learned taxation, I became astute on my earnings & love calculation of my income & taxes now! Guess I should have become an accountant, eh?

[nftigershark]

Very informative, thanks for the great content!

[vanimotechnologies]

I am a Lawyer with no tax experience in my background. I enjoy the easy to follow videos. Great job! and informative.

[michaelcutrone]

I’m from Canada, but honestly most of the content you guys cover is extremely relevant and show the concepts in great detail! Appreciate the free knowledge and great visuals

[tammyharshell]

I love your videos! They are so helpful!!

[NoOneCaresWhatKyleThinks]

Loved this video! This should be taught more in schools!

[FinancialFreedomMadeSimple]

Great info, I always learn from your uploads!