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Take a year off. Ideally some time in June to maximize the tax benefits.
by imbusy111 2y ago
Take a year off. Ideally some time in June to maximize the tax benefits.
- chirau 2y agoWhy does June maximize tax benefits?
- iosguyryan 2y agoJune may be too late in the year, but some credits have an income cap.
- simmons 2y agoI'm not the poster who mentioned this, but I assume they're thinking about tax brackets. If you make a year's worth of income in a year, then take a year off starting in January, some of that income may be taxed in a higher bracket. If you take a year off starting in June, then you make 1/2 year income in one year and 1/2 year income in the next year, so there's a better chance that all the income will be taxed in lower brackets.