If you are a W2 wage earner who earn a lot of money through salary, RSUs, etc, could you please share your favorite tax saving strategies? What are some legal ways to save on tax and build wealth? Any references to articles, videos, podcasts?
JohnFen3 hours ago
I do a 401k (and investing in my businesses, but that's neither here nor there) plus whatever my accountant recommends.
I don't have any problem with the idea of paying taxes, so I don't put a large amount of effort into reducing my tax bill. There are more beneficial uses for my time and energy.
muzani2 hours ago
This is the way. Taxes outside of Europe aren't too bad, and they fund more good things than bad things.
I also don't think people get to high income by min/maxing taxes. Best to focus on exponential growth than logarithmic savings.
idontwantthis11 minutes ago
I lived outside of the US for five years and claimed the FEIE. That’s about $120k deduction each year. Obviously comes with its own complications and I didn’t do it just for the deduction.
roland354 hours ago
Just fund your 401k and pay your taxes! Count yourself lucky!
nothercastle4 hours ago
Max out 401k HSA and all other tax deferred accounts. After that it’s really complicated game playing
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