1. Charitable Donations: Consider alternating years of higher donations to exceed the standard deduction, which for 2023 has increased to $12,950 for single filers and $25,900 for married filing jointly. By itemizing in high-donation years and taking the standard deduction in others, you optimize tax deductions.

2. Retirement Contributions: Increase your 401(k) or 403(b) contributions to lower taxable income. For 2023, the limit is $22,500, with an additional catch-up contribution of $7,500 for those over 50. IRA contribution limits are $6,500, plus a $1,000 catch-up for over 50s.

3. Health Savings Account (HSA): With a high-deductible health plan, contribute to an HSA. The 2023 limits are $3,850 for individuals and $7,750 for families. These contributions are pre-tax and withdrawals for qualified medical expenses are tax-free.

4. Saver’s Credit for Low-Income Taxpayers: Eligible low-income earners contributing to a retirement account may receive a credit of up to 50% of their contributions, depending on income and filing status. This may lower your tax liability.

5. Flexible Spending Accounts (FSA): Contribute up to $3,050 to an FSA in 2023 if offered by your employer. This can yield tax savings for medical expenses.

Additional Tax Tips:

6. Energy Efficient Home Improvements: Taxpayers can take advantage of credits and lower their tax liability by making energy-efficient home improvements. Check for eligible upgrades like solar panels, energy-efficient windows, or heating and cooling systems.

7. Education Credits: If you’re paying for higher education, explore the American Opportunity Tax Credit (AOTC) and the Lifetime Learning Credit (LLC), which can offer significant deductions for tuition and fees.

8. Child and Dependent Care Credit: If you pay for child or dependent care to work or actively look for work, you may qualify for this credit. The credit amount depends on your income and the amount of care expenses you incur.

9. Adjust Your Withholdings: If you consistently owe money or get a large refund at tax time, consider adjusting your withholding. Use the IRS Tax Withholding Estimator to determine the right amount to withhold.

10. Keep Good Records: Maintain organized records of all deductions, income, and tax documents. Good record-keeping simplifies the filing process and supports your claims if audited.