Doesn’t lower AGI, though. May lower taxable income.

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Dec 18, 2024
7:46:14pm

allaboutthegainz All-American

Doesn’t lower AGI, though. May lower taxable income.

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allaboutthegainz

Previous username: allboy10
Bio page: allaboutthegainz
Joined: Jun 9, 2010
Last login: Mar 10, 2025
Total posts: 10,194 (0 FO)

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Messages

Author

Time

Accountants: Best way to lower Adjusted Gross Income in the next 2 weeks

GFCougar

12/18/24 7:36pm

Donate to my charity. I'll send you the tax id.

Cougsanity

12/18/24 7:38pm

The Human Fund?

jrifkin48

12/18/24 7:52pm

You can deduct gambling losses up to how much you won gambling

TCuz

12/18/24 7:39pm

Traditional IRA if you qualify.

RexIdaCoug

12/18/24 7:39pm

Set up a Donor Advised Fund. It's an immediate deduction to your income. Then

12/18/24 7:42pm

Doesn’t lower AGI, though. May lower taxable income.

allaboutthegainz

12/18/24 7:46pm

<< Deleted >>

TwinsRight

12/18/24 9:13pm

Self employed?

allaboutthegainz

12/18/24 7:47pm

Unfortunately no

GFCougar

12/18/24 8:08pm

Itemized deductions after AGI, so charity won't help you. Was it self-employed

Bainge

12/18/24 7:47pm

All W-2 for both of us

GFCougar

12/18/24 8:12pm

Prepay tithing for next year? IRA

12/18/24 7:52pm

Perhaps you could defer some income until Jan? Pay your 2025 tithing now? Donate more to Cougar Club?

HarlemCoug

12/18/24 7:54pm

Do you need to lower your AGI or your taxable income? Two different things as

12/18/24 7:56pm

AGI

GFCougar

12/18/24 8:09pm

In some circumstances you can prepay next year's state taxes

CocaColaRecovery

12/18/24 8:04pm

Max out your 401k and traditional IRA contributions. Look into a SEP IRA if you

NoVaCoug10

12/18/24 8:08pm

Does 401k come out before the AGI calc?

GFCougar

12/18/24 8:11pm

Yes

RexIdaCoug

12/18/24 8:13pm

Then we may be ok

GFCougar

12/18/24 8:14pm

Selling a few loser stocks can get you $3000. You can always buy them back

Tare

12/18/24 8:20pm

Augusta rule if you have an s corp

12/18/24 9:23pm

If self employed can deduct 20% of net income with Qualified Business Income

Bigcouggy2

12/18/24 10:42pm

Why do you need to lower AGI? EV credit? If so, you can use your 2023 AGI to

allaboutthegainz

12/19/24 7:18am

You can contribute to a traditional IRA for the previous year up until you file your tax return.

OPINIONS

12/19/24 9:22am

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