Tax breaks
I max my 401K and I pay alimony, these are my only tax breaks. I don't own a house. What are the other ways to save some of the money I pay on taxes? I've heard from various people that I should create an LLC but that sounds disingenuous. L6 at Google TC 510K
HSA, mega backdoor Roth (don’t know if this counts already as a part of “maxing 401k), backdoor Roth IRA, donor advised fund (if you’re a scrub who donates to charities), realize 3k of capital losses a year to deduct from ordinary income, 529 savings plan (if you have kids)
Does the mega backdoor actually reduce your AGA? Or is it just another way to get money into your 401k after tax?
I don’t think mega backdoor decreases your taxable income. Just helps your investments grow in a tax deferred/advantaged manner.
Do you mind sharing why the marriage broke down?
I actually don't know man. I miss the woman, it was before I joined Google and things started looking better from a financial perspective. I remember meeting the child custody folks in Oaktown (they have lots of experience) and she told me that I'd be a single dad for a long time and that she isn't going to get better. Sad story man, sorry to be a downer.
Marry. Buy a house. Create LLC. You already know it.