Pretty Simple:
I've heard folks are owing this year. I want to end up on the return side of the field.
(I've heard this has more to do with a change in withholding than with changes in tax liability, but it's not really the crux of my question.)
Is there anything simple I can do to make sure that happens? I made 90k, single, no dependent, nonhomeowner.
Can I for instance dump funds into an IRA? My company doesn't offer 401k match, but should I dump 15k into that? What are other options.
Thanks.
[EDIT]
TL;DR Not much possible without a time-machine. Ensure withholdings are correct, make changes for the future.
Comment Summary 3/15 7:47a
- Ensure correct withholding. One income source - claim Single-2 on W-4
- Making $90K and eligible for a 401k (taken or not), no deduction for IRA
- Can't contribute to a 401k for last year. Note: IRA - April 15, last day for 2018 contribution
- Health Savings Account (HSA) contributions would work, if HSA available through plan
- Contribute to 401k this year, reduce taxes for next year.
- Get a time machine, Get married, have kids, buy an electric car, and sell stock at a loss.
Submitted March 15, 2019 at 08:00AM by SmittySomething11111 https://ift.tt/2UxMZyK
