Paying as little taxes as legally possible is as American as Moms, Guns, and Apple Pies. If you follow this blog, you know that one of the easiest and best ways to reduce your taxes both now and in the future is to contribute as much as you possibly can to retirement accounts like 401ks,
Any time you can get more money into tax-advantaged accounts, like IRAs, 401ks, and HSAs, I say do it. I am always scheming for new ways to take advantage of these types of accounts because they’re awesome.
Nearly all financial advisers will tell you they are trying to help you, and many even believe it themselves. But, as they say, money talks, and bullshit walks. Unfortunately, most financial advisers do not have your best interests in mind,
As you may know, there are two different flavors of individual retirement accounts (IRAs): the traditional IRA (think: Vanilla) and the Roth IRA (um, Chocolate?). Each flavor has it’s unique benefits. By combining the advantages of each account type, you can dramatically reduce your taxes for many years.