Dossier
Schechter Dokken Kanter
Coverage of Schechter Dokken Kanter in the Nexus archive.
- Health Savings Account: A triple saver
Health Savings Accounts (HSAs) offer triple tax advantages: pretax contributions, tax-free growth, and tax-free withdrawals for medical expenses. Experts like Steven Warren, CPA, recommend using other funds for medical costs to let HSAs grow, with contribution limits of $4,400 for singles and $8,750 for families (plus $1,000 for those 55+).
- Picking up a side gig for some extra money
Steven Warren, a CPA, advises that taking a side gig to earn extra income is generally beneficial, even if it pushes some earners into a higher tax bracket. For example, a single person earning $50,299 moving into the 22% tax bracket with an additional $5,000 would only pay the higher rate on the extra income.