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Sly · 09-21-2011, 05:59 AM

I've only been reading half the thread so somebody catch me up.

For fantasy sake, let's say I'm making $500k a year. What deductions are available to me that put me in the $50k bracket?

To my knowledge, the only way I can put that personal money into the stock market and get a deduction would be a 401(k), which is capped $15k yearly and is not even available to those that make $500k a year.

I suppose I could invest that money into a personal business, that would allow for a variety of deductions, although my fantasy Fortune 500 company employer would probably not be too crazy about that.

Charitable donations I suppose. I wouldn't really get much monetary benefit out of that.

I must be leaving something out.

I don't particularly feel sorry for this person, I'm simply trying to figure out where $400k worth of deductions come from.

09-21-2011, 05:59 AM
Sly Let's do some business! Industry Role: Join Date: Sep 2004 Location: Austin, TX Posts: 31,323	I've only been reading half the thread so somebody catch me up. For fantasy sake, let's say I'm making $500k a year. What deductions are available to me that put me in the $50k bracket? To my knowledge, the only way I can put that personal money into the stock market and get a deduction would be a 401(k), which is capped $15k yearly and is not even available to those that make $500k a year. I suppose I could invest that money into a personal business, that would allow for a variety of deductions, although my fantasy Fortune 500 company employer would probably not be too crazy about that. Charitable donations I suppose. I wouldn't really get much monetary benefit out of that. I must be leaving something out. I don't particularly feel sorry for this person, I'm simply trying to figure out where $400k worth of deductions come from. __________________ Vacares - Web Hosting, Domains, O365, Security & More - Paxum and BTC Accepted Windows VPS now available Great for TSS, Nifty Stats, remote work, virtual assistants, etc. Click here for more details.