Is there a taxable income reduction idea you can use? Many tax experts talk about shifting your tax burden from one year to the next. While in theory it may make sense, how can you make it work for you in practice? The concept Since the tax code is complex in its construction, there are often opportunities to reduce your tax burden by controlling the amount of your taxable income. This is because: Income tax rates vary from 0 to 37 percent depending on your income and filing status. Many tax breaks have income limits. Tax breaks have income phase-out ranges. Incremental taxes like the alternative minimum tax are triggered by income level. So if you can shift your income and expenses from o
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