There’s still time to reduce your tax bill or boost your refund before the deadline — here’s how

With the tax filing deadline rapidly approaching in two weeks, several options remain available to mitigate your tax burden or maximize your refund.

One strategy involves contributing to tax-advantaged retirement accounts.

**Pretax Individual Retirement Account (IRA)** You can contribute to a pretax IRA until the tax deadline, and these contributions can lower your taxable income.

The maximum contribution for 2023 is $6,500, with an additional $1,000 available to those over age 50.

**Roth IRA** Roth IRA contributions are not tax-deductible upfront, but withdrawals in retirement are tax-free.

If you’re in a lower tax bracket (typically around 10-12%), Roth IRAs can be a more beneficial option than pretax IRAs.

**Spousal IRA** This is an underutilized option that allows married couples to contribute to a separate IRA for a nonworking spouse.

The working spouse must have sufficient earned income to cover the contributions for both IRAs.

**Health Savings Account (HSA)** If you have a high-deductible health insurance plan, HSAs offer triple tax benefits: tax-deductible contributions, tax-free earnings, and tax-free withdrawals for qualified medical expenses.

The contribution limit for 2023 is $3,850 for self-only coverage or $7,750 for family plans, with an extra $1,000 available for those over age 55.

By utilizing these tax-saving strategies before the April 15th deadline, you can reduce your tax liability or enhance your refund.

Consider consulting with a tax professional to determine which options are most suitable for your individual circumstances.