1) Sell securities at a loss.but no white sale. 2) health savings plan.( HSA). 3) FSA. 4) Flexible Spending Account $5,000 for childcare. 5) Charitable Donations. 6) maximum 401k.
Saving on taxes now is great, but if you have saved well for retirement (and taking into account the current tax brackets are sunsetting and will go up), then you will likely be in a higher tax bracket in retirement. Not initially, but eventually. This is why I am no longer saving into my SEP-IRA but am now saving into a Solo Roth 401-K.
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1) Sell securities at a loss.but no white sale. 2) health savings plan.( HSA). 3) FSA. 4) Flexible Spending Account $5,000 for childcare. 5) Charitable Donations. 6) maximum 401k.
Saving on taxes now is great, but if you have saved well for retirement (and taking into account the current tax brackets are sunsetting and will go up), then you will likely be in a higher tax bracket in retirement. Not initially, but eventually. This is why I am no longer saving into my SEP-IRA but am now saving into a Solo Roth 401-K.
Super complicated.. I would prefer just to pay someone to provide tax guidance - any recommendations? Maybe a short list per state
Time to get rid of your DBX and get your tax loss harvesting started for 2024
I would add 529.
Vote republican and lower your tax