Which of the following is not an acceptable method of reducing your tax bill?
A)Taking a loan for investment purposes and deducting the interest
B)Increasing your contributions to tax-advantaged retirement accounts
C)Using as many deductions as possible to reduce your marginal tax rate
D)Deducting employment expenses you were reimbursed for

Question

Quizplus · Accepted Answer

Deducting employment expenses you were reimbursed for is not an acceptable method of reducing your tax bill as you cannot deduct expenses that have already been reimbursed by your employer. The other options listed (A, B, and C) are acceptable methods of reducing your tax bill.

Which of the Following Is Not an Acceptable Method of Reducing