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Millennial Money: 4 ways married couples can use tax breaks to build wealth

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Published 6:00 AM

By ELIZABETH AYOOLA of NerdWallet

Married couples can benefit from a range of tax breaks in the form of credits and deductions. With the right strategies in place, couples can use these tax breaks to build wealth. One strategy that couples can employ is using tax credits or money they saved because of deductions to invest in themselves or the market. Couples may also consider reinvesting tax-free money they get from the sale of a home or using 529 plans to build wealth for future generations. Writing off business losses can also create opportunities to reduce taxable income and grow wealth.

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