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7 Tax Changes for 2021

The coronavirus pandemic has caused more changes than the usual yearly differences when you sit down to do your taxes for 2020 during the new year.

You’ll want to be aware of all the new limits, deductions and credits that can help increase your refund — and give you more money to save and invest, or pay off debt. Here are seven of the biggest tax changes for the 2021 filing season.

 

1. Simplified charitable deductions

2. Retirees needn’t worry about RMDs

3. Raised income brackets

4. Higher standard deductions

5. Health savings account (HSA) limits increased

6. Higher income limits for the saver’s credit

7. No tax if your boss helped with your student debt

 

Questions? AABS Inc. is here to help you through the process!
Give us a call to get started today 919-303-3345.

Full Details here: https://finance.yahoo.com/news/7-biggest-tax-changes-2021-224400711.html

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