As the extended income tax deadline draws near, Mike looks at some strategies you can use to potentially adjust your taxes from 2020.
- Are you aware of the different IRA rules?
- How does contributing to a retirement account affect taxes? If you contribute now, does it benefit last year’s taxes or this years?
- Are you contributing to and using an HSA if you are eligible?
Several listeners also called or texted in with questions like:
- I just moved a mobile home and plan to rent it out. Can I write off those moving and/or setup expenses?
- Is it possible to list rental income as passive income to offset taxes?
- What are the limits for an IRA contribution?
- Is there a good strategy for getting out of cryptocurrency to try to avoid paying future capital gains taxes?