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Dec 18, 2024
8:13
:15
pm
RexIdaCoug
All-American
Yes
It will reduce your W-2 wage
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RexIdaCoug
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RexIdaCoug
Joined
Nov 17, 2006
Last login
Dec 18, 2024
Total posts
18,411 (2,442 FO)
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Messages
Author
Time
Accountants: Best way to lower Adjusted Gross Income in the next 2 weeks
GFCougar
7:36pm
Donate to my charity. I'll send you the tax id.
Cougsanity
7:38pm
The Human Fund?
jrifkin48
7:52pm
You can deduct gambling losses up to how much you won gambling
TCuz
7:39pm
Traditional IRA if you qualify.
RexIdaCoug
7:39pm
Set up a Donor Advised Fund. It's an immediate deduction to your income. Then
GideonsTrumpet
7:42pm
Doesn’t lower AGI, though. May lower taxable income.
allaboutthegainz
7:46pm
<< Deleted >>
TwinsRight
9:13pm
Self employed?
allaboutthegainz
7:47pm
Unfortunately no
GFCougar
8:08pm
Itemized deductions after AGI, so charity won't help you. Was it self-employed
Bainge
7:47pm
All W-2 for both of us
GFCougar
8:12pm
Prepay tithing for next year? IRA
wannnacruise
7:52pm
Perhaps you could defer some income until Jan? Pay your 2025 tithing now? Donate more to Cougar Club?
HarlemCoug
7:54pm
Do you need to lower your AGI or your taxable income? Two different things as
GideonsTrumpet
7:56pm
AGI
GFCougar
8:09pm
In some circumstances you can prepay next year's state taxes
CocaColaRecovery
8:04pm
Max out your 401k and traditional IRA contributions. Look into a SEP IRA if you
NoVaCoug10
8:08pm
Does 401k come out before the AGI calc?
GFCougar
8:11pm
Yes
RexIdaCoug
8:13pm
Then we may be ok
GFCougar
8:14pm
Selling a few loser stocks can get you $3000. You can always buy them back
Tare
8:20pm
Augusta rule if you have an s corp
blueandWHITE
9:23pm
If self employed can deduct 20% of net income with Qualified Business Income
Bigcouggy2
10:42pm
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