Finance

How to cut income below the $150,000 limit

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Millions of Americans will get a tax break on their unemployment benefits this tax season.

But certain income rules limit who can qualify.

Fortunately, there are a few tax maneuvers involving individual retirement accounts, health savings accounts and write-offs for business equipment that may help workers skirt those restrictions.

“There’s a little ray of hope for you,” said Leon LaBrecque, a financial planner and accountant at Akron, Ohio-based Sequoia Financial Group.

More from Personal Finance:
Biden tax plan: What people making over $400,000 can expect
IRS postpones April 15 U.S. tax deadline to May 17
TurboTax, H&R Block need time to account for $10,200 unemployment tax break

The American…



Source cnbc.com

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