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When your taxes have increased, you may be able to legally save money by _________.
a. hiding your income in offshore accounts
b. failing to file your tax returns on time
c. giving large money gifts to your spouse
d. making itemized deductions on your return

Respuesta :

holesstanham

Answer: d. making itemized deductions on your return.

Itemized deductions are expenses that taxpayers can claim on their federal income tax returns and which might decrease their taxable income. These are claimed in place of a standard deduction. The taxpayer is given the choice to deduct the itemized deduction amount, or the applicable standard deduction amount. The taxpayer can choose whichever one is greater. Therefore, this can be a legal way to save some money.

marvineetesh3

A person may be able to lawfully save money by itemizing deductions on a return if taxes have increased.

What are itemized deductions?

Itemized deductions are defined as the allowable expenses that people or an assesses can claim on their federal income tax returns to cut down their taxable income. They can be affirmed in the position of a standard deduction if one is accessible.

If taxes have increased, a person may be able to legally save money by itemizing deductions on a tax return.

Therefore, option d is correct.

Learn the value of taxes, refer to:

https://brainly.com/question/16423331

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