Tax saving ideas

[thanks]

Cheppandi.. every year uncle Sam account khali chestunnadu

[Spartan]

ne salary cheppu.joint.

[Raazu]

2 minutes ago, thanks said:

Cheppandi.. every year uncle Sam account khali chestunnadu

Tax kattali ga! Govt kuda bathakali

[thanks]

1 minute ago, Spartan said:

ne salary cheppu.joint.

212k

[thanks]

1 minute ago, Raazu said:

Tax kattali ga! Govt kuda bathakali

Legal ga kaduta.. saving ki tips adugutunna

[Raazu]

Just now, thanks said:

Legal ga kaduta.. saving ki tips adugutunna

Some people do itemized deductions.. Anni one year gas bills grocery bills anni enter chestha koosuntaruu..

 

I always go with standard deds.

[AndhraneedSCS]

9 minutes ago, thanks said:

Cheppandi.. every year uncle Sam account khali chestunnadu

Donate all the money and you don't have to pay taxes on donations. 

 

Max out on 401K 

[thanks]

2 minutes ago, AndhraneedSCS said:

Donate all the money and you don't have to pay taxes on donations. 

 

Max out on 401K 

Mari nannu evaru donate chesukuntaru 😂

[sri_india]

• MAX out 401(K) 
• 200K+ so no eligibly for IRA/Roth IRA but if you looking for future do backdoor roth 
• kids untee 529 college savings plan
• if you are healthy and not expecting major healthcare expenses - HSA 
• Commute / Kids day care lantivi untee - FSA 
• emina stock loss untee , even previous years vi ayinaa oka 3k 
• mortgage interest 

add more guys ....

 

[Spartan]

42 minutes ago, thanks said:

212k

both working or only on1.  @thanks

both ante 2 401ks kada...anta kanna ekkuva chesina waste...not much diff in tax rate then

[Guest]

W4 withholding lo number penchu, you don't have to pay when filing 

 

[ForEverJava]

1 hour ago, thanks said:

212k

40k if wife n husband contrbute to 401k also if not ira n roth backdoor contrubutions..

Hsa account i think 3 to 5k ..property taxes 10k writeoff..mortgage interest.. Fsa daycare accounts if u have small kids and also fsa health accounts if u have any medical needs with high expense.. 

Also w4 fill up properly year begining ..if possible add extra withholding every month so no hefty payment year end.. kids 529 add as well 10k..

Donations salvation army or good will n charity..

Thats all i can think off..

[thanks]

1 hour ago, Spartan said:

both working or only on1.  @thanks

both ante 2 401ks kada...anta kanna ekkuva chesina waste...not much diff in tax rate then

Ayya Roth not eligible aa? Mari wife peru meeda okati vundi.. illegal aa now

[thanks]

1 hour ago, Spartan said:

both working or only on1.  @thanks

both ante 2 401ks kada...anta kanna ekkuva chesina waste...not much diff in tax rate then

Yea both working

[csrcsr]

2 hours ago, thanks said:

Cheppandi.. every year uncle Sam account khali chestunnadu

Illu konuko