Creative ideas to reduce tax bill

Meta
TaxesUgh

Go to company page Meta

TaxesUgh
4d 23 Comments

Total taxes (married filing jointly) have been increasing year over year. On one hand, I'm really thankful for the financial growth and dont eant to take anything for granted. On the other hand, I'm really surprised (not in a good way) the effective tax rate is as high as ~45%, which means we end up paying shit ton of money. How are folks dealing w/ this? I've already maxed out 401k, backdoor roth, mega backdoor roth, 529s, etc., We donate for charity quite a bit, but not that much to reduce taxes significantly. Not looking for anything illegal, but any legal but creatives ways folks use to reduce the taxbill?? FYI, wifey and I are both on a H1B, so cant really do much outside of our jobs.

TC 1M, YOE 15

comments

Want to comment? LOG IN or SIGN UP
TOP 23 Comments