The April 15 tax deadline is less than two weeks away, which many Americans probably think is too late to reap additional savings. But they’re wrong, tax experts said.
The standby tactics of filling up retirement and health savings accounts (HSA) are always advisable, but this year, there may be more. President Donald Trump’s signature tax and spending plan passed last summer offers Americans many tax breaks retroactive to 2025 that they can use.
“This year’s expanded tax brackets and the tax reforms passed last year – including making permanent the 2017 tax cuts and key provisions of the One Big Beautiful Bill – are freeing up capital for millions of filers and unlocking new opportunities for savings, reinvestment, and small business growth,” said Keith Hall, president and chief executive of National Association for the Self-Employed, a nonprofit that helps the self-employed and micro-businesses.
They just need to know where to look, experts said. Below are some of their top tax savings tips.
Taxpayers can contribute to traditional retirement funds such as their 401(k) or individual retirement account (IRA) up until April 15 and take the tax deduction for 2025 to lower taxable income.
