Rendered before/after
Currently we are married filing jointly and putting 10% in each 401k but I'm trying to figure out if we would make out better on taxes if we max out one 401k and put 0 in the other then file separately so one of us is bumped down to a lower bracket. Thoughts?
This is probably the lowest tax rates you might ever see in your lifetime
If you liked separately you would end up paying more taxes.
If you can put some of thst into the RITH option you will be thankful later in life.
You and your wife should try to out the same dollar amount away each week if possible.
Its good to keep some of the money separate
Currently we are married filing jointly and putting 10% in each 401k but I'm trying to figure out if we would make out better on taxes if we max out one 401k and put 0 in the other then file separately so one of us is bumped down to a lower bracket. Thoughts?
This is probably the lowest tax rates you might ever see in your lifetime
If you liked separately you would end up paying more taxes.
If you can put some of thst into the ROTH option you will be thankful later in life.
You and your wife should try to out the same dollar amount away each week if possible.
Its good to keep some of the money separate