So how do you pay $0 taxes when you make six figures? The net result of clever tax moves has been proven. Here’s the exact method to follow:
Max out tax deferred savings plans like 401k’s, 457’s, and IRA’s
Funnel medical and child care expenses through HSA’s or FSA’s
Don’t miss out on common tax credits like the child tax credit and retirement savings contributions credit
What do you think of this strategy for paying $0 income taxes? What other ways can someone legally avoid paying taxes on a six-figure salary?