Household TC close to 600k+
Fed tax: ~170k
SSN, Medicare etc standard rate.
Don’t have a mortgage as we are renting (36k a year for apartment)
Taking standard deductions.
What are good ways to save on tax. We do not qualify for child tax credit or anything else.
We use turbo tax to file return.
What do you do to save on Tax? Any advice?
Please do not give answers like (Charity or Earn Less 😂)
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comments
2. hire a good accountant & financial advisor
3. buy property
So trad (401k + IRA) = ($20.5k + $6k) x 2 = $53k per year of tax sheltered money.
Also, what do u mean no IRA benefit?