Mar 18, 2024 – It’s not often we recommend a book on taxes, but “The Investment Tax Guide: How to Slash Your Taxes” by Bill Harris, former CEO of PayPal and TurboTax now at Evergreen Money, is an exceptional resource for investors……(read more)

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In an exclusive interview with former PayPal and TurboTax CEO Bill Harris, we learned some valuable insights on how individuals can slash their taxes and maximize their tax savings. With over 30 years of experience in the financial industry, Harris has a wealth of knowledge when it comes to navigating the complex world of taxes.

One of the first pieces of advice Harris shared was the importance of taking advantage of all available tax deductions and credits. He emphasized the need for individuals to stay informed about changes in tax laws and regulations in order to claim all eligible deductions. Harris also highlighted the benefits of utilizing tax software or hiring a professional tax preparer to ensure accuracy and maximize savings.

Harris also stressed the importance of proper tax planning throughout the year, rather than scrambling to gather documents at the last minute. By keeping track of expenses, deductions, and potential credits throughout the year, individuals can avoid missed opportunities for savings come tax season.

Another key tip Harris provided was the importance of contributing to retirement accounts. By maximizing contributions to 401(k) or IRA accounts, individuals can reduce their taxable income and potentially lower their tax burden. Harris also recommended exploring other tax-advantaged accounts, such as health savings accounts (HSAs) and flexible spending accounts (FSAs), to further reduce taxable income.

In addition to traditional tax-saving strategies, Harris also highlighted the importance of staying organized and maintaining accurate records. By keeping detailed records of income, expenses, and receipts throughout the year, individuals can easily substantiate deductions and credits when filing taxes.

Overall, the interview with Bill Harris provided valuable insight into the world of tax planning and savings. By staying informed, utilizing available resources, and planning ahead, individuals can effectively slash their taxes and keep more of their hard-earned money in their pockets.