Question

Minimize text liability

Forum|Forum|4 years ago
September 30, 2021
1 reply
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What can I do to minimize my tax liability after receiving a promotion. I am not married nor have kids or own a house. I rent. I already contribute 10% to my 401k and as much as possible to my HSA. Any other options?

O

OpeA1

Hello Plstksol77:

Congratulations on your promotion!

I am sending you a link to look for ways to lower your tax liability. You did mention your 401(k), if you maximize your contribution, that will help to reduce you taxable income. See the following link https://turbotax.intuit.com/tax-tips/jobs-and-career/ Do scroll down to see topics in the blue.

Also, please use our Tax Caster tool to help in calculating taxes..https://turbotax.intuit.com/tax-tools/

Thank you for using Turbo Tax!

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