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Taxes

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Thread replies: 10
Thread images: 1

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Need some recommendations on how to lower taxes paid at the end of the year. I make about 23k per year and have 1 kid.
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>>1761098
do you file as head of household or married?
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>>1761100
i would file as head, we are seperated, going to be divorced this year some time.
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>>1761098
Not sure which year you are talking about.
Traditional IRA, 401K, HSA, FSA, 429, lifetime learning credit.
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>>1761137
end of this year, i wanted to start early and figure out what i should be doing to lower them.
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>>1761147
Well, the ways mentioned are a start. Child support is not taxable, but alimony is taxable. So, it would be better to get something that is not alimony.
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>>1761153
my work doesn't offer 401k but the IRA is something i was looking into, should i limit myself on how much I put in? like a good % or just whatever I can spare? If I can afford to go back to college, then those look pretty nice, thanks for that info.
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>>1761162
>whatever I can spare
Probably whatever you can spare. You don't want be in a situation where your rent is due, but you blew it all on an IRA. I think the limit is 5500 a year.
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>>1761170
so the short story of this is, put spare in a traditional ira and go back to school.
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>>1761098

Dude you are not going to pay shit, if anything you will be getting a refund.
Thread posts: 10
Thread images: 1


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