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Thought leadership series
Before you go buy an Airbnb, try these strategies first.
Buy an Airbnb. Write everything off. Build "passive income." Save on taxes. Sure. Easy. You just need to become a part-time hotel manager, contractor, and maintenance team. What could go wrong? Or…you can make sure you are taking full advantage of these “boring” strategies first. They may not play great on TikTok. But they could save you thousands each year. 1.Your Health Savings Account (HSA). If available at work, it’s one of the only triple tax advantage accounts in the entire tax code. Just make sure this type of health plan is right for you. 2.Your 401(k), profit sharing, and deferred comp. Are you maxing these out? 3.Your Flexible Spending Accounts (FSAs) - medical, dependent care, and commuter. These save you taxes on money you already spending. We had a client save over $6,000 a year just by checking a few more boxes at annual enrollment time and actually using these benefits her employer already offered. Chasing complex strategies can be exciting and give you some cool stories. But boring and consistent ensures you aren’t leaving money on the table every single year. Get the foundation right before you go chasing complexity. As always, make sure these strategies make sense for your individual financial plan and give you the flexibility you need. If you want help pressure-testing what you're already doing, or what you're missing, link in bio. #FinancialPlanning #TaxStrategy #BusinessOwners #HighIncomeEarners #WealthPlanning #TaxTips #SmartMoney #EntrepreneurFinance #BuildWealth #TaxEfficiency #PersonalFinance
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