Title says it all. Have accepted an offer this month and will be receiving 30k joining bonus. Want to know how I can save on taxes. Any tips? Thanks for your input!
Talk to a certified financial planner/advisor.
ask to get it all cash and not have it show up on the paystub. boom, no taxes
Are you worried about any additional tax other than regular income tax?
Create your own whatever business, spend that 30k for whatever, record it as a business expense. Boom
Practically, no way. Deducted at source.
Pull a Scientology and infiltrate the IRS.
There's only that much you can do with tax avoidance, and tax evasion is extremely high risk.
Max out your IRA and 401k, and HSA if you have one.
Maxing an IRA won't help with current taxes because the deduction income limit is low. Likely OP would only be able to do a backdoor Roth. Which he should certainly do, but not for current tax reasons. Pretax 401k and HSA are good, but everybody should already be maxing those anyway with the TC numbers people post here.
FB does not offer HDHP, so HSA is not an option for OP
Donate it to charity. Boom!
Don't worry about it? More taxes means you made more money, so you're already better off.