here.2) Harvest losses - The market is picking back up, but if you have stock or mutual fund investments in a non-tax-advantaged acccount (i.e., not a retirement account), you can sell off some of your investments at a lower price than you bought them for in order to offset taxes that you will pay for profits from other investments. While you will definitely lose money on your investment, you will pay less in taxes. Five Cent Nickel does an excellent job of explaining this concept
3) Donate to a charity or non-profit - Now wait a minute, you say. I'm reading this because I want to keep my money, not give it to the poor! That's a fair enough attitude, Ebenezer, but it is worth noting that money donated to charities and/or non-profit organization (such as THEATRES) is money that you can deduct from your taxable income and therefore pay less money in taxes on.
*If you're more interested in saving money illegally, I recommend not hiring the man in this video.
Photo by soukup.
This post was featured in the Carnival of Personal Finance #340.