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Max out your HSA and 401K to the max!
Subject Expert
A lot of people found that the standard paycheck deduction was too low this year.
Calculating your estimated tax burden is fairly easy with a W2 job. You may want to do it each year in September and adjust your withholdings accordingly for the final few paychecks of the year.
Contrary to what D1 has said, there aren’t many deductions for your standard W2 employee. The tax code rewards real estate investors and business owners, not your average W2 worker. Beyond 401k / HSA / 529 plans, there aren’t many things that will work.
Subject Expert
Get some beehives and talk to a CPA
The tax code has a million things for you to do to reduce your tax burden
Step 1) Create LLC
Step 2) Buy Beehives
Step 3) Buy G-Wagon and bonus depreciate it.
Step 4) Sell Honey from Beehives out of the G-Wagon
Step 5) Go out of business because this idea is ridiculous