How to lower tax bracket?

[mirchi_bajji]

6 minutes ago, no01 said:

kids unnara? unte 529 college education plan lo en-roll avvu...I think it will save some taxes, if I'm not wrong

state 529 aite possible ankunta...

 

[mirchi_bajji]

anyone using dependent FSA? 

i think it can be used to pay childcare and preschool fees etc.

[Spartan]

Just now, mirchi_bajji said:

anyone using dependent FSA? 

i think it can be used to pay childcare and preschool fees etc.

e year vadaledu kada....

use it or loose it kada adi..

only 500$ roll over, this year koncham limit penchi natunnaru.

[mirchi_bajji]

4 minutes ago, Spartan said:

e year vadaledu kada....

use it or loose it kada adi..

only 500$ roll over, this year koncham limit penchi natunnaru.

if you know you are gonna spend on day care , then you can calculate and use that amount i guess.  yeah use it or lose by end of year type. cant even prepay.

limit is 5000 right?

[snoww]

16 minutes ago, mirchi_bajji said:

state 529 aite possible ankunta...

 

529 only affects state income tax anukunta. No difference to federal

[phatposts]

1 hour ago, FLraja said:

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

OP is not asking nashtam vs labham. How to lower, so far no one gave a response that answers the question.

[FLraja]

1 hour ago, phatposts said:

OP is not asking nashtam vs labham. How to lower, so far no one gave a response that answers the question.

nenu adey cheptunna kada , 0 kattali antey ela? already minimum kadtunnadu kada

[phatposts]

7 minutes ago, FLraja said:

nenu adey cheptunna kada , 0 kattali antey ela? already minimum kadtunnadu kada

did you read his first post or later responses? No where did he say "0 kattali"

[meandhrakurradu]

mestri ki insurance kosam money kadite adi kuda tax deductible e na ?

[AFDB_Director]

On 3/3/2021 at 2:10 PM, no01 said:

kids unnara? unte 529 college education plan lo en-roll avvu...Iink it will save some taxes, if I'm not wrong

Depends on state. Probably upto $10k deduction

[afacc123]

On 3/2/2021 at 8:01 PM, 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 

 

Open business and show everything as expense for business and make eyeeeareeeyessss pay for you every year 

[TechSri]

On 3/3/2021 at 1:23 PM, Spartan said:

e year vadaledu kada....

use it or loose it kada adi..

only 500$ roll over, this year koncham limit penchi natunnaru.

 

On 3/3/2021 at 1:22 PM, mirchi_bajji said:

anyone using dependent FSA? 

i think it can be used to pay childcare and preschool fees etc.

FSA ledu but kid is going to day care so how to get tax credit when filing tax returns in this case. 

[mirchi_bajji]

3 minutes ago, TechSri said:

 

FSA ledu but kid is going to day care so how to get tax credit when filing tax returns in this case. 

Child and Dependent Care Tax Credit :    tax software lo aduguthadu if you have such expenses ani. i think it is 3000 per child. this is the max amount by which your taxable income will reduce. 

[soldier]

For singles standard deduction 12k asalu anthakanna ekkuva em cheyagalaru w2 meda 

give me solid reason. 
none 

[snoww]

7 minutes ago, soldier said:

For singles standard deduction 12k asalu anthakanna ekkuva em cheyagalaru w2 meda 

give me solid reason. 
none 

Yep. After trumf thatha raised the standard deduction limits, even family ki kooda kashtame itemize seyyatam.