Neil McElroy is an engineer for Causley Computer Inc. In addition, Neil operates a janitorial service that cleans several local office buildings. Neil was divorced in $2019,$ and his wife received custody of their two children. He has assembled the following information for preparation of his tax return for the current tax year.

Neil's salary$$71,500$Interest income$$9,500$Monthly alimony paid to ex$-$spouse$$1,500$Monthly child support$$500$Purchase of equipment for use in janitorial service$$10,000$IRA contribution$$6,500$

Based on the information given, which of the following are fundamental methods of managing Neil's tax liability?

Tax credit: Neil could take an investment tax credit for purchases of qualifying business equipment.

Deductions for AGI: Neil may deduct alimony payments of $$18,000$ made to ex$-$spouse.

Deductions for AGI: Neil may deduct child support payments of $$6,000.$

Exclusions: Neil could have invested in municipal bonds to receive tax$-$free income.