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How do you save more on your taxes? Is it worth adding more to your 401k pre tax?

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If you can contribute to an HSA that’s a nice way to save also. HSA is triple tax free - tax deductible contribution today, you grow it tax free in the market, and you spend it tax free as long as it’s on a qualified medical expense. It’s beautiful

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That’s good. Honestly if you don’t itemize, there’s only so much you can do outside of capping a 401k and HSA. Be sure to pick up any foreign tax credits if any foreign taxes were paid on any holdings in your brokerage account, I guess. Can’t think of much else

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1 Max your HSA, then pay all of your health expenses in cash. 2 Log all of your health expenses and save receipts. 3 As needed, pull cash from the HSA years down the road (after it's grown in the market).

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If you can afford to put more in 401k, that is a good plan. Depends on tax bracket if traditional or Roth 401k is better

Fwiw, I'm in 24% territory and switched to 100% traditional this year to lower my AGI as much as I could.

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What happens if you never have medical expenses to pull from your HSA? Is there any way you can use your HSA for retirement like a Roth IRA?

HSA behaves similar to a traditional IRA at 65. You can withdraw for any reason but will be taxed on it if it's not medical.

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So it sounds like the HSA is great if you anticipate that you'll be in good health and not paying for a low deductible/high premium insurance policy. Is that the gist of it?

- max put tax advantaged accounts - reduce your adjusted gross income - create tax advantaged revenue streams

I’m fond of rental real estate myself. Depreciation tends to offset rental income almost exactly 100%.

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Make less money? 🙃

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