Yarnstormer
Recycles dryer sheets
I work at home as a subcontractor - with two clients. One has turned out to be much more income than I anticipated which is great. I’m on “the team” and looks like it’s going to last.
This year I am near the subsidy cliff and looking at ways a self employed person can lower magi. I have a good bit in taxable accounts and can’t stem the flow from those really but it does enable me to put all of my earnings in Ira or purchase equipment.
Ideas:
- Usual home business deductions
- Ira contribution
- Purchase software/new computer
- sell stock that has losses to offset gains
- annuitize money in taxable account?
The last one I do not get. Is money put into an annuity considered deferred?
I’m not an annuity fan at this time but I want to prepare for a big December just in case!
I’m meeting with my accountant this week to do some math and also plan for next year but I thought this group would prob be more creative!
This year I am near the subsidy cliff and looking at ways a self employed person can lower magi. I have a good bit in taxable accounts and can’t stem the flow from those really but it does enable me to put all of my earnings in Ira or purchase equipment.
Ideas:
- Usual home business deductions
- Ira contribution
- Purchase software/new computer
- sell stock that has losses to offset gains
- annuitize money in taxable account?
The last one I do not get. Is money put into an annuity considered deferred?
I’m not an annuity fan at this time but I want to prepare for a big December just in case!
I’m meeting with my accountant this week to do some math and also plan for next year but I thought this group would prob be more creative!