10 tax loopholes that could save you thousands

Tax avoidance strategies aren't solely for the rich — plenty of tax deductions and credits are available for middle- and low-income taxpayers, too. Here are the best tax loopholes you might be able to take advantage of to lower your tax bill.

What is a tax loophole? Tax loopholes are simply legal ways to use the tax code to save yourself money. Different loopholes exist for different levels of income.

Whether your income level is low, high, or in the middle, there are 10 tax loopholes you can use to lower your tax bill: