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Reply to "For those with high HHI ($500K), tax saving strategies"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Do either of you have access to a deferred comp plan? We put over $60k a year into ours, which reduces taxable income a good deal. As others said, max your 401k, HSA and FSAs if you have them. [/quote] Generally known as a 457 ........... caution though. Deferred compensation still belongs to the employer until you collect it. It's subject to all liabilities that the employer has. You might lose it all. [/quote] Could be wrong, but I think 457s are only for government and nonprofit employees. For profit employers have a different version. But yes, deferred comp is still the asset of your employer so you only want to do it if your employer is stable.[/quote]
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