You want to minimize your current tax bill by maximizing your contributions to your _____________.

Question

Quizplus · Accepted Answer

Contributions to a 401k or 403b plan are tax-deferred, meaning the money is not taxed until it is withdrawn from the account. This can reduce your taxable income and potentially lower your tax bill. Additionally, some employers may offer matching contributions to your 401k or 403b plan, which can further increase your retirement savings.

You Want to Minimize Your Current Tax Bill by Maximizing