ER_Hopeful
Recycles dryer sheets
for 2013, I made around $110k (all from megacorp w2) plus $1k to $2k of dividends/capital gains from my vanguard funds. My taxable income is around $77k, married filing jointly, so that puts me in the 25%. I just bumped up my 401k contribution last month so by year end I will have maxed out the $17500 allowed (last year, I contributed $11k.)
anything else I can do? we don't have any health issues(knock on wood), so no need for HSA. Should I open a traditional IRA? (we both have Roth IRA)
I was reading this guy's blog, Early Retirement at 33: An Overview | Root of Good
quoting him
"Our tax strategies have been so successful that we ended up with a federal tax bill in 2012 of $600 in spite of gross earnings over $140,000. I consider an average tax rate under 0.5% to be pretty good! 2013 is even better. Our tax rate is 0.1% ($150 tax on $150,000 income)."
I'm very intrigued how this can be achieved.
thanks.
anything else I can do? we don't have any health issues(knock on wood), so no need for HSA. Should I open a traditional IRA? (we both have Roth IRA)
I was reading this guy's blog, Early Retirement at 33: An Overview | Root of Good
quoting him
"Our tax strategies have been so successful that we ended up with a federal tax bill in 2012 of $600 in spite of gross earnings over $140,000. I consider an average tax rate under 0.5% to be pretty good! 2013 is even better. Our tax rate is 0.1% ($150 tax on $150,000 income)."
I'm very intrigued how this can be achieved.
thanks.