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It’s only January, but I’m dreading tax day already. Our taxes will be quite complicated this year because I sold a bunch of stock options and the rentals will muck things up as well. R Block and I’ll fill it in as the required W-2 documents arrive. I really hope we won’t have to send the IRS a big check this year. Taxes take a huge bite out of your income and nobody likes to pay them.
AGI and pay fewer taxes now. Here are my reasons for investing so heavily in the tax advantaged retirement accounts. This psychological barrier will prevent us from touching our retirement fund until we really need it. If the funds are in a regular taxable brokerage account, it will be too easy to withdraw and spend it.