How do you decrease your taxable income to stay on certain bracket? 401k, What’s else?
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6 years doing market-neutral arbitrage as a female trader, and the biggest lesson I’ve learned is that the people who say 'it doesn't work' are usually the ones trying to scale too fast without testing the mechanics. Question for the room: For those actually executing, what's your average net yield per spread on a standard market inefficiency right now? Let's see who is actually in the market versus just talking about it. 👇
I've recently noticed many people juggling a busy work life with personal investments and long-term financial planning. It seems that while income is important, asset allocation, risk management, and a long-term perspective are equally crucial. How do you usually allocate your time and energy? Do you focus more on career development, or do you dedicate some of your energy to investing and financial management?
Seems somewhat fitting to ask in this bowl. Has anybody experienced Chapter 13 Bankruptcy? I’m exploring the option to get a fresh restart on bills that got the better of me but am scared to actually do it. I know I’m in too deep and want to do this before I actually do get behind on bills. Any real advice from someone that had to do it? I’m fully recognizing this is my own fault and I’m already embarrassed about it, so keep judgment to a minimum even though I’m judging myself.
HSA and IRA are options.
IRA traditional or Roth?
Traditional, if you want to reduce taxable income. Roth IRA and 401k don’t reduce income now but are tax free later
529, but only on state level and selected states. funnel some money to your business, even a small one and tag as biz expense. charitable contributions.
HSA, Limited FSA
Capital losses can deduct up to $3k from income I believe
@QT1 does RH send those capital loss information?
Im afraid i dont use RH!
Besides all the pre-tax accounts, everything on a Schedule A will reduce taxable income. But why do you care what bracket you're in? Tax brackets are marginal, so you pay the higher tax rate only on income within that bracket.