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Money and Finances
Reply to "For those with high HHI ($500K), tax saving strategies"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Start a business? All the magic tricks are for entrepreneurs and those in much higher brackets[/quote] This. Our HHI is around $800-1M and $100K or so is 1099. Even that “little” (relatively) amount helps a lot with taxes. Can one of you start consulting on the side, find a paid board seat with a smaller company, etc? Anything you can bring in via 1099 would help open up more possibilities. [/quote] What? Explain this. Being a 1099 employee is generally the opposite of "helps a lot with taxes." [/quote] Bump. I have a 1099 side gig. How does that help other than being able to count legitimate expenses against it?[/quote] Because most people funnel non legit expenses like meals out, "office expenses" etc through it. [/quote]
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