Trying to make sure I’m understanding this correctly- if I choose to contribute a lump sum of post tax money to my HSA at the beginning of the year and then just contribute a minimal amount of pre-tax money the rest of the year to max it out, I can deduct the lump sum contribution on my taxes even if I don’t itemize other deductions, right? And the net effect is the same as maxing out an HSA with entirely pretax contributions?

like
Posting as :
works at
You are currently posting as works at

You will not get the benefit of reduced payroll taxes if you contribute a lump sum

That makes sense, thanks for clarifying that! I wasn’t taking into account FICA taxes

F

Related Posts

I’m 35 years old and I want to go into law, outside of the, it’s never too late bs, how possible is it for me to still have a successful career financially? What about if I wanted a family? Would the student loans be worth it?

like

Where’s my money?! 😭😭😭

like

Business ideas to start in new york? Im 21, 16k is my capital. I also can start a business in a less expensive country (Dominican Republic) I just need some ideas!

funny
funnylike

Hey guys, Im 25 and I have about 35k in the bank, 21k in retirement, 41k personal invested, 5k in crypto. No debt. Is it smart to invest more during this down market or save for a house/wedding or something else that’s smarter?

like

Need to get renters insurance? First time in Ny. I know they all run about the same, but any good experiences out there?

like

What are your rents like? Please include city, neighborhood (class) number of rooms, and type (standard, luxury)

like

Has anyone built a home with taylor morrison? About to sign a purchase agreement in austin and am trying to figure out a sensible budget for the design center.

Some more info.
Lot +structural changes + model price - $520k

Hoping to spend only around 15k at the design center and than 10k on vinyl wood flooring and appliances after closing

Many thanks!!

like

For our Social Security income when we qualify for it, is it based on the highest annual income during the entire working life, or the most recent income the year before being qualified?

like

I had net gains from stock sales totalling 16 cents in 2019. I omitted this from my tax return. Any reason to be concerned?

funnylike

Does anyone here use dividend income to live off or fund parts of lifestyle? I’d like to get started now and hopefully have nice cash flow in some years

like

What’s the best way to make a million dollars as a mechanical engineer?

funnylike

How critically do you examine the operations of each company before investing in their stocks? For example-I avoid investing in Walmart, Walgreens, Target, etc. because they sell alcohol and...

funnylike

I wanted to know if we can take home loan facility from lic housing finance or other biggies for a FREEHOLD PROPERTY in noida. Getting huge deduction in income tax so wanted an opportunity to save tax and at the same time owning a dream home.. if you any authentic lic housing finance agent's number that would be great too. If there are other companies for which interest rate is low then let me know as well. Just FYI, currently living in greater noida.

like

Ideas for towns/cities near Fort Lauderdale to buy a 2nd home/rental property? Fort Lauderdale is the sweet spot time/$/distance middle ground between current home near my family and spouse’s family.

like

Does anyone know how taxes work if you move to a new state after selling? Do you pay the state tax to the tax you moved to or the state where you sold before moving? Basically trying to figure out if I should stay in Florida for the rest of the year or if it’ll be fine to move to nyc after selling (ny and nyc tax alone would be in the five figures)

like

Is 4% a good match for 401k? Can I negotiate an increase? Thanks

like

What’s an ideal minimum net worth to have by 30 years old? I know everyone’s path is different and retirement plan is different, so let’s go with HCOL area for someone looking to retire by 55.

Guys Tom uses Excel to segment his revenue streams from villager debts

Post Photo
likefunny

Question. What debt consolidation service would you recommend? Have some credit card debt accumulated from my wife that I’m thinking of consolidating. Get all kinds of offers in the mail but would prefer recommendations if you have any. Thanks.

like

More Posts

Who would you consider to be the best freelancers creatively in Chicago? The ones who are the most well known, always deliver awesome work, and in demand?

like

How do you share your work on LinkedIn? I'm worried it'll come off as cocky

like

Favorite cologne for men? Noticed YSL has some nice discounts for Black Friday. What are your personal favorites?

like

Any Recruiter here?

Need Help

like

What’s the typical TC look like for a first year SC Deloitte GPS Consulting?

Currently sitting at $100K base, feel like I’m underpaid and looking to move elsewhere

like

Im a new grad NICU Nurse been with my hospital for 1 year but ready to leave.!how can I make my self more attractive to other hospitals in my area.

like

What sort of compensation would a financial controller for Motorola receive at their plant in Richardson, TX?

like

Do people still have business cards?

like

Who is hiring?

like

Should I expect any specific questions during an introduction call with a recruiter? I have a call setup with a BSG recruiter and just wondering if I should prepare for any interview type questions?

Thanks in advance!

Hi sharks ,
Has anyone received verbal communication for the mid year hikes or anyone has seen the updates on rewards page .
Should we contact our supervisor regarding this

like

Anyone else frustrated by the call today? It’s peak month end close time and I felt like it was a bad time for them to schedule a two hour call where the first hour nothing was accomplished.

like

How many active cases should a junior attorney (0-3 YOE) be directly responsible for? (Wondering specifically in the public injury/employment context but would love to hear more about people’s workloads across industries!)

like

Thursday Daily Quordle #52
7️⃣5️⃣
8️⃣4️⃣
quordle.com
⬜⬜🟨⬜🟩 ⬜⬜⬜⬜🟩
⬜🟨⬜⬜⬜ ⬜🟨⬜🟨⬜
⬜🟨⬜⬜⬜ ⬜🟨⬜🟩⬜
⬜🟨⬜🟨⬜ ⬜🟨⬜⬜⬜
⬜⬜⬜⬜🟩 🟩🟩🟩🟩🟩
🟨🟨🟨🟩⬜ ⬛⬛⬛⬛⬛
🟩🟩🟩🟩🟩 ⬛⬛⬛⬛⬛

⬜⬜⬜⬜⬜ ⬜⬜⬜🟨🟨
⬜⬜⬜⬜⬜ 🟩🟩🟩⬜⬜
⬜⬜⬜⬜⬜ 🟩🟩🟩⬜⬜
⬜⬜⬜⬜⬜ 🟩🟩🟩🟩🟩
⬜⬜⬜⬜⬜ ⬛⬛⬛⬛⬛
⬜⬜⬜🟨🟨 ⬛⬛⬛⬛⬛
⬜🟨⬜🟨⬜ ⬛⬛⬛⬛⬛
🟩🟩🟩🟩🟩 ⬛⬛⬛⬛⬛

Just hit circuit breaker on SPY. Further drill or rebound when it reopens?

like
like
Post Gif
like

Helo fishes !!

Anyone have worked in Indirect procurment and logistics invoice verification in SAP MM.

If so kindly suggest me some online videos for learning.

like

I have heard lots of mixed reviews for Citiustech Healthcare Technologies CitiusTech
Is it a good company or bad company ?
What kind of projects they provide development / support ?
Is any having idea ?

like

What’s everyone sport of choice? I’ve been running for ten years, and added cycling to the mix last year.

Additional Posts in Personal Investment Chatter

Thoughts on front loading Roth IRA contributions to start off the year?

like

Any recommendations for total market index funds? Thanks!

like

Any advice on saving money? I'm constantly failing to save money.

like

How much money do you have saved up in your HSA account? I have close to $30k and I feel that may be too much..thoughts?

like

What blogs/books/resources should I seek out if I want to make the transition from passive trading (index funds/buy and hold blue chips) to more active trading (options, speculation, spending a few hours a week researching, etc)? I’m looking to turn my investing into more of a side hustle

like

Will home prices go down with this “recession”? Good time to buy?

like

My comment was reported as spam in 2021 (FB notification in comments)

It's not spam if it's right

Post Photo
like

Anyone ever hear of the Clearbridge Select Fund, Franklin Growth Fund? I recently got life insurance (Primerica) and they want to move my IRA from Bank of America into one of those funds. Should I consider? How are they?

likefunny

I deposited $1k into my Roth IRA about 2 weeks ago. Circumstances have changed and I’d like to take this uninvested cash back to my checking account. Is this possible without a penalty?

like

Nothing suprises me anymore what about you?

like

So let me get this straight: to Backdoor Roth IRA, you just put $6k in post-tax money into a traditional roth, leave it in the money market account and convert it once the funds settle into an existing Roth IRA

If it’s just that, why does the government make us jump through hoops to do this? Just allow it for all income levels

like

Looking to rollover a previous employers Roth and ira. Thoughts on vanguard vs Betterment?

like

Would love your thoughts. I lease a 2019 Audi A4–due to go back in March, but I’m eyeing a Tesla. The mileage on the lease is crazy low (18k miles). Has anyone traded in an Audi for Tesla? Or traded in anything for a Tesla? Looking at Model3 performance.

like

Theoretically, is maxing out 401k contributions enough for savings in a given year? I have a lot of expenses this year so wondering if I can do less savings when I’m already contributing to 401k with the employer match (~25k) and HSA max ($3.6k)

like

My husband is obsessed with buying a 50k truck. He feels he deserves it as he works hard in sales making 65k. I think it's a ridiculous idea considering the looming recession. I make 60k too and we have a 1800 MTG. He would trade in a 10k truck but I still think it's ridiculous. Any suggestions or experience that someone has gone through this argument.

I'm also open to hearing about successful purchases of highly depreciated trucks.

likefunnysmarthelpfuluplifting

How much do you spend on food and drinks per month? Currently spending $2.5k between me and my spouse (we’re in LA, ~$600 groceries, ~2k dining out/take-out). We by no means ball out, and even decline to go out sometimes to stay within budget, but we do eat out pretty often. Trying to figure out if we’re overdoing it.

like

Has anyone avoided getting a real estate agent to negotiate a lower price/credits worth the commission while buying a house? How did you go about managing the transaction?

So, what’s the latest get rich quick scheme?

like

Anyone carrying a margin position? What’s your strategy? Which brokerage? What rate?... Been reading some good stuff about leveraging index funds for the long run. 💰

like