Saving Money On Your Tax Bill

cutting down taxesA big way in which you can save money on your taxes comes thanks to the fiscal cliff tax deal. The tax deal brought back dozens of expired credits and deductions, making them retroactive to 2012. Among them being able to deduct state sales taxes and the American Opportunity Tax Credit. Also, you have until April 15th, filing day, contribute to an Individual Retirement Account (IRA) or health savings account (HSA) for 2012.

Before you start planning for 2013, you still have 2012 taxes to worry about. CNNMoney has ways you can save money on your tax bill.