56 min listen
249-How Dual-Income, High-Earning Couples can Lower Their Income Taxes
249-How Dual-Income, High-Earning Couples can Lower Their Income Taxes
ratings:
Length:
67 minutes
Released:
Oct 14, 2015
Format:
Podcast episode
Description
One of the benefits that $200/mo. Patrons of Radical Personal Finance get is being able to choose a topic of the show.
Here's the note that prompted today's episode:
Joshua,
Double income medium- to high-earning couples frequently ask me how to lower their taxes (the second income is at a higher rate of >28%, plus state 3.75% and social security 7.65 or 40% all in). I don't have a lot to tell them:-calculate whether it's worth it for second spouse to work ('Money or Your Life' style-after tax/child care/gas income per hour of total time spent at job (commuting and working)-weigh the qualitative factors-max 401k-invest in real estate
I'm assuming I'm missing things. What do you have to say on the subject?
One reason my wife doesn't work is that its not worth it.
Thanks,
Patron
Today's episode includes my response and advice for how couples can approach this conundrum!
Joshua
Need a financial advisor? Start your search here: http://radicalpersonalfinance.com/paladin
Do you have a budget? You need one! Try this: http://radicalpersonalfinance.com/YNAB
Want to support the show? Go here: http://radicalpersonalfinance.com/patron
Here's the note that prompted today's episode:
Joshua,
Double income medium- to high-earning couples frequently ask me how to lower their taxes (the second income is at a higher rate of >28%, plus state 3.75% and social security 7.65 or 40% all in). I don't have a lot to tell them:-calculate whether it's worth it for second spouse to work ('Money or Your Life' style-after tax/child care/gas income per hour of total time spent at job (commuting and working)-weigh the qualitative factors-max 401k-invest in real estate
I'm assuming I'm missing things. What do you have to say on the subject?
One reason my wife doesn't work is that its not worth it.
Thanks,
Patron
Today's episode includes my response and advice for how couples can approach this conundrum!
Joshua
Need a financial advisor? Start your search here: http://radicalpersonalfinance.com/paladin
Do you have a budget? You need one! Try this: http://radicalpersonalfinance.com/YNAB
Want to support the show? Go here: http://radicalpersonalfinance.com/patron
Released:
Oct 14, 2015
Format:
Podcast episode
Titles in the series (100)
RPF 0008 – Updates for the Show and a Conversation on The Problems and Solutions Facing Our Consumption-Based Society: Today's show is a conversation about the current status of the show, some of my mistakes and things I'm working on and it's also a casual conversation about what's really important. We talk about the problems and solutions facing our consumer society .. by Radical Personal Finance