Domain Advisors works tirelessly to find ways to lower your tax bill. There are several ways we help clients pay less in taxes, including:

Increasing your tax deductions: You may be eligible for a larger tax deduction if you have a mortgage, donate to charity, pay state income tax, or have significant medical bills. Many states also offer deductions for contributions to college savings plans.

Taking advantage of eligible tax credits: Tax credits directly offset your tax liability dollar-for-dollar.

Saving for retirement: Pre-tax, deductible IRA or 401(k) contributions will lower your taxable income for the current tax year. In contrast, Roth IRA and Roth 401(k) contributions may lower your future tax bill, considering qualified distributions are tax free.

Contributing to a Health Savings Accounts (HSA) or Flexible Spending Accounts (FSA): Contributions to these accounts reduce your taxable income for the current year, and allow you to use the pre-tax funds to pay for qualifying healthcare expenses throughout the year.

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