I Asked ChatGPT How To Lower My Tax Bill Legally, and It Gave Me This Strategy

I asked ChatGPT for ineligible ways to little my taxation bill. The artificial quality delivered a elaborate playbook covering everything from speedy wins anyone tin usage to precocious strategies for self-employed workers.

ChatGPT organized the proposal into 3 categories: accelerated wins astir radical miss, bigger opportunities for freelancers and semipermanent wealth-building strategies that trim taxes twelvemonth aft year.

ChatGPT started with status accounts due to the fact that they trim taxable income dollar-for-dollar. The 401(k) publication bounds hits $24,500 for 2026, with workers ages 50 and older eligible for catch-up contributions bringing the full to a imaginable $35,750, depending connected your age.

Traditional IRA contributions max retired astatine $7,500 successful 2026 with an further $1,100 catch-up for those 50 and older.

Health savings accounts earned peculiar praise from ChatGPT arsenic the “holy grail” of taxation advantages. The 2026 limits are $4,400 for idiosyncratic sum and $8,750 for household coverage. HSAs connection triple taxation benefits: deductible contributions, tax-free maturation and tax-free withdrawals for aesculapian expenses.

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The modular deduction for 2025 is $16,100 for azygous filers and $32,200 for joined couples filing jointly. ChatGPT advised taking this unless itemized deductions transcend those amounts.

Common itemized deductions see owe interest, authorities and section taxes capped astatine $10,000, charitable donations and aesculapian expenses exceeding 7.5% of adjusted gross income.

ChatGPT wrote that taxation credits trim taxes dollar-for-dollar portion deductions lone trim taxable income. The kid taxation recognition provides up to $2,200 per qualifying kid nether 17.

The kid and babelike attraction recognition covers up to 35% of qualifying attraction expenses, with caps based connected the fig of children. Education credits including the American accidental recognition and beingness learning recognition assistance offset assemblage costs. Electric conveyance and vigor ratio credits reward greenish purchases.

ChatGPT flagged concern disbursal deductions arsenic commonly overlooked. Legitimate write-offs see location bureau abstraction adjacent if lone partial, net and telephone bills, work-related subscriptions, mileage oregon existent conveyance expenses, instrumentality and software, and concern meals astatine 50% deductibility.

The AI noted the modular for deductions is “ordinary and necessary,” but the barroom sits little than astir radical think.