Stop Tax Surprises: 5 Tax-Smart Moves for High Income Earners to Reduce Tax Liability
About this episode
The episode discusses five tax-smart moves for high income earners to reduce their tax liability and avoid surprises come tax season.
Looking for legal ways to reduce your tax bill before you're caught off guard again next spring? In this classic Money for Life episode, hosts Eric and Kali break down five tax reduction strategies for high earners. These 5 money moves are all designed to lower what you owe the IRS. By being proactive and strategic, you can lower your tax burden and avoid unpleasant surprise tax bills next year We talk through: How to use a securities-backed line of credit against your brokerage or bank account to access cash without triggering capital gains from selling investments How to treat your HSA like a stealth IRA for triple tax-free growth The financial tradeoffs of relocating to a state with no income tax Why tax-loss harvesting is more strategic than the robo-advisor marketing suggests (and where the wash-sale rule trips people up) Why high income earners might want to consider using a backdoor Roth IRA conversion to get money into a Roth despite income limits… plus the pro-rata rule mistake that can quietly create a tax bill (and IRS penalties) down the road This is a rerun of a fan-favorite episode, so as an important note for listeners: some of the figures mentioned are from when…
People in this episode
Hosts: Eric Roberge, Kali
Mentioned in this episode
Organizations: IRS
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