Original Profile Posted March 3, 2021 Author Report Share Posted March 3, 2021 56 minutes ago, phatposts said: Are you asking for 2020 or 2021? 2021 Quote Link to comment Share on other sites More sharing options...
manadonga Posted March 3, 2021 Report Share Posted March 3, 2021 7 minutes ago, Original Profile said: Health insurance bhayya...daniki pay chesedhi pretax. No tax for that Antena inka ekkadina tax savings cheyyochemo anukunna Quote Link to comment Share on other sites More sharing options...
Vaampire Posted March 3, 2021 Report Share Posted March 3, 2021 2 hours ago, Spartan said: ma lanti vallaki donate cheyi..... and include that on tax donations.... cc: @Vaampire neeku kuda vartistundi e idea.. Ikkada tax returns kattadaniki stocks ammuthunna Quote Link to comment Share on other sites More sharing options...
bhaigan Posted March 3, 2021 Report Share Posted March 3, 2021 2 hours ago, Spartan said: ma lanti vallaki donate cheyi..... and include that on tax donations.... cc: @Vaampire neeku kuda vartistundi e idea.. please include me bhayya Quote Link to comment Share on other sites More sharing options...
phatposts Posted March 3, 2021 Report Share Posted March 3, 2021 10 hours ago, Original Profile said: 2021 If you are serious about taxes, I strongly recommend a Tax consultant (not a CPA). If the Tax consultant/advisor is part of your CPA office's team that is a benefit. This is not the right place for tax advise. You will not reduce tax, but Backdoor Roth is an Option for future tax free investing. If your income is high you are not eligible for normal roth deductions. Quote Link to comment Share on other sites More sharing options...
AFDB_Director Posted March 3, 2021 Report Share Posted March 3, 2021 30 minutes ago, phatposts said: If you are serious about taxes, I strongly recommend a Tax consultant (not a CPA). If the Tax consultant/advisor is part of your CPA office's team that is a benefit. This is not the right place for tax advise. You will not reduce tax, but Backdoor Roth is an Option for future tax free investing. If your income is high you are not eligible for normal roth deductions. Second this. If your income is $200k+, go for backdoor ROTH. you can put $6k for you and $6k for your spouse. Also, google 'mega backdoor ROTH'. This will allow you to put additio6 $37.5k into ROTH dollars. Youtube has several tutorials on this. Quote Link to comment Share on other sites More sharing options...
Original Profile Posted March 3, 2021 Author Report Share Posted March 3, 2021 1 hour ago, phatposts said: If you are serious about taxes, I strongly recommend a Tax consultant (not a CPA). If the Tax consultant/advisor is part of your CPA office's team that is a benefit. This is not the right place for tax advise. You will not reduce tax, but Backdoor Roth is an Option for future tax free investing. If your income is high you are not eligible for normal roth deductions. Thanks bro...do you know any tax consultants? Quote Link to comment Share on other sites More sharing options...
Original Profile Posted March 3, 2021 Author Report Share Posted March 3, 2021 32 minutes ago, AFDB_Director said: Second this. If your income is $200k+, go for backdoor ROTH. you can put $6k for you and $6k for your spouse. Also, google 'mega backdoor ROTH'. This will allow you to put additio6 $37.5k into ROTH dollars. Youtube has several tutorials on this. Thanks will look into it. But Roth is after tax ga...profits lo tax cut avvavu ani telusu Quote Link to comment Share on other sites More sharing options...
FLraja Posted March 3, 2021 Report Share Posted March 3, 2021 14 hours ago, Original Profile said: Any legal ideas on how to reduce tax brackets? Regular vi anni telusu like 401k, hsa, insurance etc. Any other ideas? both working and ee year pay kuda ekkuva vastondhi...so taxes pagilipoye la vundhi iddaru 20+20 pettava 401 lo? peddaga em padadu ga tax migilina total 250k ayina its less than 25k kadtavu Quote Link to comment Share on other sites More sharing options...
phatposts Posted March 3, 2021 Report Share Posted March 3, 2021 2 hours ago, FLraja said: iddaru 20+20 pettava 401 lo? peddaga em padadu ga tax migilina total 250k ayina its less than 25k kadtavu 250k ki 25k tax aa? how? Quote Link to comment Share on other sites More sharing options...
phatposts Posted March 3, 2021 Report Share Posted March 3, 2021 2 hours ago, AFDB_Director said: Second this. If your income is $200k+, go for backdoor ROTH. you can put $6k for you and $6k for your spouse. Also, google 'mega backdoor ROTH'. This will allow you to put additio6 $37.5k into ROTH dollars. Youtube has several tutorials on this. Mega backdoor is possible only if employer's plan supports in service distributions. Some data shows only 3% of the employers allow that. Quote Link to comment Share on other sites More sharing options...
Spartan Posted March 3, 2021 Report Share Posted March 3, 2021 13 hours ago, Vaampire said: Ikkada tax returns kattadaniki stocks ammuthunna ala amme paristiti rakunda...maaku donate seyandi babayya.. @Vaampire kavalante ne binami la unta.. 1 Quote Link to comment Share on other sites More sharing options...
FLraja Posted March 3, 2021 Report Share Posted March 3, 2021 45 minutes ago, phatposts said: 250k ki 25k tax aa? how? Sorry 25% anaboyi. Aa rate lo nuvu 24k deduction=225k meeda 55k-4k child credit= close to 50k kadtunnav inkem nastam bhayya? after tax 200 vostundi kada 250 lo Quote Link to comment Share on other sites More sharing options...
mirchi_bajji Posted March 3, 2021 Report Share Posted March 3, 2021 home office deductions kuda levu :( "Employees who receive a paycheck or a W-2 exclusively from an employer are not eligible for the deduction, even if they are currently working from home.” Quote Link to comment Share on other sites More sharing options...
no01 Posted March 3, 2021 Report Share Posted March 3, 2021 kids unnara? unte 529 college education plan lo en-roll avvu...I think it will save some taxes, if I'm not wrong Quote Link to comment Share on other sites More sharing options...
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