3 ms·
Do you have any resources you can share? My understanding is it’s pretty difficult to lower your taxes meaningfully if all of it comes from wages.
by d23 5y ago
Do you have any resources you can share? My understanding is it’s pretty difficult to lower your taxes meaningfully if all of it comes from wages.
- lotsofpulp 5y agoBogleheads forums or whitecoatinvestor. Even just 401k, HSA, 529, and megabackdoor roth should help bring down effective tax rate (for the $500k income being discussed). You will not get as low as someone with their own business or S corp, but the tax advantaged savings account should help.
- mupuff1234 5y ago529 and megabackdoor are post tax so they won't affect the tax on the 500k (but are nonetheless useful tax planning tools)
- lotsofpulp 5y agoTrue, I guess my mental model is to amortizing the total taxes over the total income/investment period.
- vecinu 5y agoHSA contributions and gains are taxable in California, so that won't help your taxes.