Want to reduce your taxes? Buy muni bonds
As tax season winds down, many people were surprised to receive a tax bill and are now bewildered about what to do next. The Tax Cuts & Jobs Act of 2018 eliminated many deductions, including the SALT deduction (state and local tax), charitable contributions for those who don’t itemize, among many other strategies normally applied before year-end to reduce taxes. The only remaining strategy to reduce tax may be by way of investing in tax-free, municipal bonds. If you’re in a h