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2) Carry out you participating inside your company's retirement plan? If not, not really try? Every dollar you contribute could decrease taxable income decrease your taxes to boot.

Muni bonds should be owned within your taxable brokerage accounts, without having it in your IRA or 401K accounts because income in those accounts has already been tax-deferred.

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(iv) All unaccounted income should be declared. If such a disclosure manufactured before its detection the actual Income Tax Department, the probability of being trapped in a tax raid are reduced.

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