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To minimize your tax liability, you need to start planning ahead and make financial arrangements. There are various ways to reduce your taxes. You can reduce your income, increase your deductions, take advantage of tax credits, and increase your withholding. Reducing your taxes on your income allows you to keep more of what you make. Also, you may want to defer your tax liabilities through investments such as pension plans, contributions and other similar plans. It’s best to start your tax-cutting early to successfully save money and reduce your tax liability.