The Under 40 Financial Planning Guide: 1040 Chess -- Strategies for Managing Your Tax Burden Introduction

The tax system is a maze of rules and regulations. Many of these have no apparent reason. If you know a number of these rules, you can employ a number of simple tax strategies that can reduce your taxes -- sometimes dramatically. Not all of them will work for you, but they can help.

Most of these strategies work by lowering your taxable income, or by some other method, and you don't need to itemize to take advantage of most of them.