Vesna Andjic | E+ | Getty ImagesWith roughly one month left in 2023, there's still time to reduce your tax bill or boost your refund, experts say. In 2018, the Tax Cuts and Jobs Act nearly doubled the standard deduction, slashing the number of filers who itemized. Make the most of your tax bracketBefore completing a year-end strategy that adds to your income, you should see if you can afford to "run up the income tax brackets," Dietz said. Pretax IRA contributions : You can still make up to $6,500 in pretax IRA contributions ($7,500 for age 50 and older) for 2023, which may offer a deduction. However, you need to check IRA tax break eligibility first.

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Persons: Vesna Andjic, there's, Akeiva Ellis, deferrals, Ellis, Robert Dietz, Dietz, It's, Louise Cochrane Organizations: Vanguard, Taxpayers, Bernstein Private Wealth Management, — Locations: Boston, Minneapolis, Alameda , California