What is a tax savings strategy? Please elaborate on two examples you may use now or in the future? A. First Example. i.e. I would take advantage of tax credit, especially the Earned Income Tax Credit by the State of California found here, B. Second Example. i.e. If I purchase of an used electronic vehicle, such as as the Fiat 500 e, or Tesla S model, as there are state, federal, and manufacturer tax credits, incentives.