Comments on: The Ultimate List of Tax-Advantaged Accounts

By: Syed

Syed — Tue, 11 Jul 2017 13:01:33 +0000

Nice comprehensive list. Many people try to get “creative” with their deductions and income reporting to save some money on taxes. But the most bang for your buck (literally) will come from contributing to tax advantaged accounts.

By: Andrew@LivingRichCheaply

Andrew@LivingRichCheaply — Wed, 28 Jun 2017 13:49:03 +0000

Maybe I’m a finance nerd but I kinda enjoy learning about taxes. Well it can be pretty dry and boring but I’m all for saving on taxes. I take advantage of almost of the accounts you mentioned. No HSA because my employer doesn’t have a good high deductible plan. I have a self-directed IRA where I hold this crowdfunded real estate investment. I’ve considered using it to buy a house but it seems more complicated with the rules against self-dealing. Also, rental properties are pretty tax efficient as it is…the profits can often be deducted with expenses and depreciation. Capital gains can be avoided it’s owner occupied (up to $500,000 for a couple) and if not owner occupied there’s the 1031 exchange where you buy a like property.

By: David Carlson

David Carlson — Tue, 27 Jun 2017 17:29:04 +0000

In reply to John @ Frugal Rules. Haha yes, legally of course. Great to hear that you are getting so much benefit out of these tax-advantaged accounts!

By: David Carlson

David Carlson — Tue, 27 Jun 2017 17:25:31 +0000

In reply to Kalie @ Pretend to Be Poor. Thanks Kalie! The Self-directed IRA is less known, but can be an interesting and lucrative option down the road for those who want to invest in something out of the ordinary like real estate. It's definitely intriguing!

By: David Carlson

David Carlson — Tue, 27 Jun 2017 17:19:37 +0000

In reply to Amanda @ centsiblyrich. That's great that you max them all out! Lots of tax savings for you and your family.

By: David Carlson

David Carlson — Tue, 27 Jun 2017 17:18:28 +0000

In reply to Josh. There is definitely something to be said about the simplicity of a Roth IRA. I also really like some of the opportunities for unique income streams that you can create with a Self-Directed Roth IRA.

By: David Carlson

David Carlson — Tue, 27 Jun 2017 17:17:07 +0000

In reply to giulia. Glad you enjoyed it!