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Reply to "Do you cut back on 401k/IRA saving if you expect to inherit millions?"
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[quote=Anonymous][quote=Anonymous]No, that’s idiotic. It’s the best tax loophole out there. [/quote] Actually, the best loophole is probably starting a business. I only do Roth or taxable investments because I already minimize taxes in so many other ways that I don't need the deduction and get access to my money any time. As just one example, via the qualified business income (QBI) deduction, many business owners that make $200K get to knock that income down by 20% and only pay taxes on $160K of income. Not only is that $40K almost double what you can deduct in your 401(k), it's actually a *true* deduction, unlike the 401(k) which just pushes your taxes into the future.[/quote]
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