Taxes can be a headache as they drain away a lot of your hard-earned money. You can't hide or avoid it, but what you can do is make sure that you are taking all the tax deductions you are legally allowed to.
Believe it or not, there are actually many tax deductions out there that you might not be aware of. If you can identify those deductions, you can save money and use it for other purposes.
HSA means Health Savings Account. Contributions to your HSA are tax-deductible, and you can use the money in the account for qualified medical expenses such as doctor visits, prescriptions, and more.
Like traditional IRA contributions, self-employed retirement contributions can reduce your taxable income by up to $6,000 per year ($7,000 if you're over 50).