Personal Finance (Not Investing) • Anymore tax deductable accounts to use?

Hello,

It's that time! I am trying to figure out if there is any tax advantageous account I can still open or contribute to that can be deductable for 2023. With below info, T-IRA is not deductable, Sep is maxed out, 401K is maxed out, HSA is maxed out. Is there anything else I can take advantage of?

Married filing jointly
2023 MAGI = 318K

Me: Selfemployed (S-Corp)
Sep IRA = 25% of W2 (max'd out)

Spouse: W2 employment
401K = Max'd out
HSA = Max'd out

Thanks!

The prioritizing investments wiki page may help...

Looks like "Spouse" could consider a backdoor Roth strategy.

Regards,

Back door Roth offers no deduction. Even if it did, since the conversion happens in 2024 so would the theoretical deduction. Recall a back door Roth involves a AFTER TAX tIRA contribution, so no deduction.

I realize all of that... I was focused on the phrase above "tax advantageous account" in the OP.

Regards,

Statistics: Posted by LotsaGray — Wed Apr 10, 2024 3:01 pm — Replies 13 — Views 825