Défiscalisation : 5 idées pour faire des économies sur ses impôts à concrétiser avant le 31 décembre 2024 from

Defiscalisation: 5 ideas to save money on taxes to be implemented before December 31, 2024

1. Invest in tax-exempt life insurance

Tax-exempt life insurance is a type of life insurance policy that grows tax-free and provides a tax-free death benefit. This means that you don't have to pay taxes on the money you earn from the policy, and your beneficiaries won't have to pay taxes on the death benefit. The main benefit of tax-exempt life insurance is that it allows you to grow your savings tax-free. This can help you reach your financial goals faster, such as saving for retirement or your children's education.

2. Contribute to a 401(k) or IRA

401(k) and IRA accounts are retirement savings accounts that allow you to save for retirement on a tax-advantaged basis. Contributions to these accounts are made on a pre-tax basis, which means that they are deducted from your income before taxes are calculated. This reduces your current income tax liability and allows you to save more for retirement. There are two types of 401(k) accounts: traditional 401(k)s and Roth 401(k)s. Traditional 401(k)s offer tax-deferred growth, which means that you don't pay taxes on the money you earn from the account until you withdraw it in retirement. Roth 401(k)s, on the other hand, offer tax-free growth, which means that you don't pay taxes on the money you earn from the account or on the withdrawals you make in retirement. IRAs are similar to 401(k) accounts, but they are available to anyone, regardless of whether or not they have an employer-sponsored retirement plan. There are two types of IRAs: traditional IRAs and Roth IRAs. Traditional IRAs offer tax-deferred growth, while Roth IRAs offer tax-free growth.

3. Take advantage of the home mortgage deduction

The home mortgage deduction is a tax deduction that allows you to deduct the interest you pay on your mortgage from your income. This can save you a significant amount of money on your taxes, especially if you have a large mortgage. To qualify for the home mortgage deduction, you must meet the following requirements: * You must own and occupy the home as your primary residence. * The mortgage must be secured by the home. * You must have paid the interest on the mortgage.

4. Deduct your state and local taxes

State and local taxes, such as income taxes and property taxes, are deductible on your federal income tax return. This deduction can save you a significant amount of money on your taxes, especially if you live in a state with high taxes. To deduct your state and local taxes, you must itemize your deductions on your tax return. This means that you must list all of your eligible deductions, including your state and local taxes, on Schedule A of your tax return.

5. Get a tax credit for energy-efficient home improvements

The Energy Policy Act of 2005 offers tax credits for energy-efficient home improvements, such as installing solar panels or energy-efficient windows. These tax credits can save you a significant amount of money on your taxes, and they can also help you reduce your energy bills. To qualify for the energy-efficient home improvement tax credit, you must meet the following requirements: * The home improvement must be installed in a home that is located in the United States. * The home improvement must meet the energy-efficiency requirements set by the IRS. * You must have paid for the home improvement.