How do you decrease your taxable income to stay on certain bracket? 401k, What’s else?
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How do you decrease your taxable income to stay on certain bracket? 401k, What’s else?
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Just noticed my betterment cash account is only 3.25% now. Anyone know of a higher interest HYSA/cash account to park cash into? Needs to stay liquid as it’s earmarked for on going renovations. TIA.
What’s the best HYSA out there this day?
I expect to get some money to the tune of 400 K shortly, what are some good investment funds/ indexes to invest in if I want some of the money to be in low risk funds and the remaining in high growth high return investments? What might the spread look like? Looking for some perspectives.
Need some advices. Got a good job opportunity and will be moving from NY to Charlotte. I have a 2 family house in Westchester but I am not sure what to do, keep it to rent it out and manage it from far away or sell it, and with the money buy another one in Charlotte and potentially buy a new rental as well (would be making 800-900k profit from selling it. thanks in advance!!
HSA and IRA are options.
IRA traditional or Roth?
Traditional, if you want to reduce taxable income. Roth IRA and 401k don’t reduce income now but are tax free later
529, but only on state level and selected states. funnel some money to your business, even a small one and tag as biz expense. charitable contributions.
HSA, Limited FSA
Capital losses can deduct up to $3k from income I believe
@QT1 does RH send those capital loss information?
Im afraid i dont use RH!
Besides all the pre-tax accounts, everything on a Schedule A will reduce taxable income. But why do you care what bracket you're in? Tax brackets are marginal, so you pay the higher tax rate only on income within that bracket.