“You would use the notice of intent to claim on the form… total contributions 400,000… intend to claim as a personal deductible contribution, 10,000. …they’ll take $1,500.”
MM
Mark McGrath
Retire Right ·
“I know the Georgia 529 plan has a state tax deduction. So they can put right now it's, I think, $4,000 each for an account.”
Retire Sooner with Wes Moss · Is Your Retirement Account at Risk? AI Security, Roth Conversions, and Market Myths
Play from 13:17
13:17
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What was described
contribute $4,000 per person to a Georgia 529 plan to get a state tax deduction
$4,000 each
Said nearby on the same subject
“Debt recycling… $500,000 non-deductible mortgage, got 50K in savings… split it… now $450,000 and $50,000 and then go invest the 50K into shares… now you have $450,000 non-deductible debt and 50,000 tax deductible debt”
PN
Pat Noll
Equity Mates Investing Podcast ·
“If you pay $10,000 in deductible interest… someone on a 47% tax… gets back $4,700… after-tax cost $5,300… someone on 32.5% gets back $3,250… after-tax cost $6,750”
ND
Nick Donato
Financial Autonomy ·
“When we combine this with our other tax cuts and the $1,000 instant tax deduction”
♫
Said on Australian Parliament: House of Representatives
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