Leticia is a single person who makes $45,000 per year- This year she paid $2,000 in student loan interest, $1,500 in medical expenses, $7,200 in rent and $4,800 in car loan payments- She contributes $3,600 per year to her 401(k) plan at work- Give her some tax advice.

The basic methods of tax planning are: reducing your overall income, increasing your number of tax deductions throughout the year, and taking advantage of certain tax credits.
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