Cool Posted October 8 Report Share Posted October 8 Any thoughts guys? Quote Link to comment Share on other sites More sharing options...
chingchang Posted October 8 Report Share Posted October 8 HSA if your employer offers , FSA (you cant use FSA for medical if you already doing HSA but you can use it for dental and vision) traditional IRA assuming you qualify (income limits), transit expenses , Dependent care FSA if you have kids going to daycare(max 5K) 1 Quote Link to comment Share on other sites More sharing options...
nag Posted October 8 Report Share Posted October 8 1 hour ago, Cool said: Any thoughts guys? take company stocks RSU ..if they are offering 1 Quote Link to comment Share on other sites More sharing options...
Konebhar6 Posted October 8 Report Share Posted October 8 10 minutes ago, nag said: take company stocks RSU ..if they are offering How does that lower tax? Quote Link to comment Share on other sites More sharing options...
nag Posted October 9 Report Share Posted October 9 58 minutes ago, Konebhar6 said: How does that lower tax? you are right bayya.. I wanted to mention about Employee Stock Purchase Plans (ESPPs). ESPPs also doesn't lower your taxes. But you get the company stock for a discount. It doesn't help you save taxes but you can acquire stocks for less. Money saved is money earned concept lo chepthunna. Again, there are lot of factors to consider for ESPPs .. vesting period.. company's overall performance so that stock price goes up consistently. 2 Quote Link to comment Share on other sites More sharing options...
socrates Posted October 9 Report Share Posted October 9 HSA, FSA, commuters tax benefits, higher allocations for 401k…etc but these options will substantially reduce your take home salary, try these if you don't have any monthly commitments like mortgage…etc or if your spouse is earning good to manage the house without depending on your salary all these options are like, live like a beggar now and be happy in future kind of options so choose accordingly Quote Link to comment Share on other sites More sharing options...
nag Posted October 9 Report Share Posted October 9 1 hour ago, nag said: take company stocks RSU ..if they are offering @cool I wanted to type ESPPs instead of RSU in the above comment Quote Link to comment Share on other sites More sharing options...
chingchang Posted October 9 Report Share Posted October 9 11 minutes ago, nag said: @cool I wanted to type ESPPs instead of RSU in the above comment ESPP is after tax money man it doesnt save any taxes ... not worth it unless your company is giving good discount .. there is usually a 6 month - 1 year hold time for ESPP and you have to pay tax whenever you sell them after holding period Quote Link to comment Share on other sites More sharing options...
aiteok Posted October 9 Report Share Posted October 9 3 hours ago, Cool said: Any thoughts guys? are you on full time? no options other than 401k, hsa and fsa. If you are on C2C, you can set up your own company, create a SEP IRA, and contribute up to 65 K anukunta per year. 1 Quote Link to comment Share on other sites More sharing options...
socrates Posted October 9 Report Share Posted October 9 8 minutes ago, chingchang said: 6 month - 1 year hold time for ESPP most of the companies are doing 3 months and give 5% discount but i agree with you its not worth Quote Link to comment Share on other sites More sharing options...
Konebhar6 Posted October 9 Report Share Posted October 9 1 hour ago, nag said: you are right bayya.. I wanted to mention about Employee Stock Purchase Plans (ESPPs). ESPPs also doesn't lower your taxes. But you get the company stock for a discount. It doesn't help you save taxes but you can acquire stocks for less. Money saved is money earned concept lo chepthunna. Again, there are lot of factors to consider for ESPPs .. vesting period.. company's overall performance so that stock price goes up consistently. ESPPs are a no brainer. Sell on the day available. You will always have profit. RSU also no brainer. Free stocks Quote Link to comment Share on other sites More sharing options...
Barney_Stinson Posted October 9 Report Share Posted October 9 hsa 529 not sure fsa Quote Link to comment Share on other sites More sharing options...
Jatka Bandi Posted October 9 Report Share Posted October 9 8 hours ago, Cool said: Any thoughts guys? Earn less so that you can pay less. 1 Quote Link to comment Share on other sites More sharing options...
nag Posted October 9 Report Share Posted October 9 12 hours ago, chingchang said: ESPP is after tax money man it doesnt save any taxes ... not worth it unless your company is giving good discount .. there is usually a 6 month - 1 year hold time for ESPP and you have to pay tax whenever you sell them after holding period thats what i say.. you are buying company stocks for less with after tax money.. but you are getting stocks for discounted rate ( discount will be 20 to 25% usually, may not be always) Quote Link to comment Share on other sites More sharing options...
CanadianMalodu Posted October 9 Report Share Posted October 9 15 hours ago, Cool said: Any thoughts guys? C2C Chesthe Asalu ee gola undadhu kadha Quote Link to comment Share on other sites More sharing options...
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