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@money_cruncher "Heres how the tax return would look: Roth conversions: $65000 Dividends: $20000 ($18k qualified $2k non-qualified) LTCG: $54000 AGI: $139000 Senior deduction: $12000 Standard deduction: $34700 Taxable income: $92300 Total tax: $2030"
@money_cruncher on X 2025-07-25 13:23:36 UTC 139.6K followers, 1213 engagements

"Vanguard has X funds that can replace your savings account. X. $VUSXX X. $VBIL X. $VMSXX Here are all the details:"
@money_cruncher on X 2025-02-27 00:11:43 UTC 139.5K followers, 167.8K engagements

"🚨Trump just signed a $XXX TRILLION tax cut into law. I reviewed every page so you dont have to. Heres exactly how it will impact your taxes:"
@money_cruncher on X 2025-07-04 23:26:18 UTC 139.6K followers, 1M engagements

"My savings account pays me XXXX% interest. What are my options X. Treasury bill ladder: XXXX% X. Vanguard money market funds: XXXX% X. HYSA (CIT bank CIBC Capital One Ally etc): 3.5%-4.0% I personally use Vanguards MMF. Where do you keep your savings"
@money_cruncher on X 2025-07-02 13:11:08 UTC 139.5K followers, 80.9K engagements

"Theres a guy whos been DMing me for X months sharing unsolicited stocks tips. Apr 28: Meta (up XX% since) May 4: Palantir (up XX% since) May 15: Crispr (up XX% since) He just sent me his latest pick yesterday 🤔😂"
@money_cruncher on X 2025-07-20 00:39:57 UTC 139.6K followers, 51.7K engagements

"2 main methods real estate investors use to "convert" passive losses into non-passive: X. Short term rental strategy X. Real estate professional status Let me explain"
@money_cruncher on X 2025-07-18 13:10:17 UTC 139.6K followers, 46.6K engagements

"5. Tips deduction If you are a W-2 employee who earns tips and your gross income is under $150000 (single) or $300000 (married jointly) you can claim a maximum $25000 deduction for tipped income. E.g any credit card tips reported on your W-2 can be deducted"
@money_cruncher on X 2025-07-22 13:12:17 UTC 139.5K followers, 5606 engagements

"3. Qualified Small Business Stock (QSBS) If want to sell your business you've probably heard of QSBS. It allows you to sell your business and pay X% capital gains tax on up to $10M in gains for C-corp stock if held for X years and assets $50M"
@money_cruncher on X 2025-07-16 13:17:37 UTC 139.5K followers, 11.2K engagements

"So John was able to save about $XXX on federal taxes due to the new deduction since his MAGI was under $75000 (typically line XX for most ppl) If married and both are over XX the standard deduction will be $33100 and the senior deduction will be $12000"
@money_cruncher on X 2025-07-21 13:18:30 UTC 139.4K followers, 7422 engagements

"By age XX they will have converted about $260000 from their pre-tax 401(k) into Roth. They also slowed the growth of their pre-tax 401(k) balance. Additionally their AGI remains under $212000 in this example helping them avoid any IRMAA surcharges for Medicare"
@money_cruncher on X 2025-07-25 13:23:37 UTC 139.6K followers, 4057 engagements

"If you are age XX and just started drawing SS this deduction WILL NOT apply to you. In contrast if you are age XX and still dont take Social Security you WILL get the deduction. The new deduction has nothing to do with Social Security but it MIGHT impact your tax bill"
@money_cruncher on X 2025-07-21 13:18:26 UTC 139.4K followers, 5673 engagements

"BREAKING: Vanguard just released X ETFs that can replace your high yield savings account. Here's everything you need to know about it:"
@money_cruncher on X 2025-02-14 00:03:58 UTC 139.6K followers, 1.1M engagements

"1. Short-term rental If the average customer stay is less than X days (e.g Airbnb) and you materially participate in the rental business for at least XXX hours (and more than anyone else) these losses can be taken against your active income"
@money_cruncher on X 2025-07-18 13:10:18 UTC 139.5K followers, 41.9K engagements

"This is why it's called a "SALT torpedo". So what should you do This is where tax planning comes into play. You have to be proactive and strategic to avoid getting hit with high taxes"
@money_cruncher on X 2025-07-23 13:20:29 UTC 139.6K followers, 3611 engagements

"🚨New tax bill just quadrupled SALT cap from $10000 to $40000 starting in 2025. With the right "bunching" strategy you could save thousands in taxes. Here's how to make it work for you:"
@money_cruncher on X 2025-07-14 13:10:16 UTC 139.5K followers, 275.3K engagements

"Nvidia's CEO is now the 7h richest person in the world worth $XXX BILLION. And he's legally avoided paying over $XXX BILLION in taxes using strategies XX% of people have never heard of. Here's how he's doing it:"
@money_cruncher on X 2025-07-24 23:17:15 UTC 139.6K followers, 224.7K engagements

"8. No tax on overtime A new $12500 deduction (single) or $25000 (married jointly) is created for overtime effective from 2025 through 2028. The deduction is reduced by $XXX for each $1000 by which your gross income exceeds $150000 (single) or $300000 (married)"
@money_cruncher on X 2025-07-04 23:26:22 UTC 139.5K followers, 76.8K engagements

"In addition the 1099-K form limit (for apps like eBay Uber PayPal Venmo etc) is increasing from a $XXX threshold to $20000 AND XXX transactions. This is a big change to reduce the administrative (not taxability) impact on business owners and side gigs"
@money_cruncher on X 2025-07-16 13:17:36 UTC 139.5K followers, 12.5K engagements

"If you enjoyed this thread make sure to: X. send it to your friend X. follow me @money_cruncher for more CPA and personal finance content"
@money_cruncher on X 2025-07-24 23:17:25 UTC 139.6K followers, 10.8K engagements

"Is this legal Yes. There have been proposals and court cases to crack down on estate tax and the use of irrevocable trusts (Walton v Commissioner) but none came to fruition"
@money_cruncher on X 2025-07-24 23:17:23 UTC 139.6K followers, 11.4K engagements

"This means that $XXX more of income will be taxed at XX% and $1000 at XX% resulting in $150-200 of federal tax savings in 2026. So a slight tax relief for not just W-2 workers but any taxpayer due to broader rate brackets"
@money_cruncher on X 2025-07-22 13:12:14 UTC 139.5K followers, 7868 engagements

"Thanks for reading. I would really appreciate it if you can: X. follow me @money_cruncher X. retweet the first tweet"
@money_cruncher on X 2025-05-25 13:40:36 UTC 139.4K followers, 10.9K engagements

""Trump account" is a custodial traditional IRA account (section 408(a)) with certain modifications. This account would be created by the Treasury Secretary for the exclusive benefit of an "eligible beneficiary" Let's break that down further"
@money_cruncher on X 2025-07-09 13:08:30 UTC 139.4K followers, 12.2K engagements

""I have $20k to invest. Should I invest it all at once or cost average" Research shows that lump sum outperforms cost averaging XX% of the time (Finlay and Zorn paper) BUT for a risk-averse investor with significant loss aversion it may be better to cost average. In any case either is better than sitting on cash"
@money_cruncher on X 2025-06-24 18:34:11 UTC 139.6K followers, 57.6K engagements

"You could legally pay $X in federal taxes even on $300000 of W-2 income. And the new tax bill just made it a lot easier. Here's how to take advantage of this:"
@money_cruncher on X 2025-07-18 13:10:15 UTC 139.6K followers, 729.8K engagements

"If you're a W-2 worker the new tax bill could put a little extra cash back in your pocket. Here's everything that's changing (and how it impacts your paycheck):"
@money_cruncher on X 2025-07-22 13:12:12 UTC 139.6K followers, 115.4K engagements

"If you have portfolio income it also increases your MAGI including: X. Dividend income (especially from REITs) X. Taxable interest X. Capital gains Here are some potential moves related to that:"
@money_cruncher on X 2025-07-23 13:20:31 UTC 139.6K followers, 2628 engagements

"We know that qual dividends and LTCG arent taxed if taxable income is $96700 for married ppl. Say they received $20k in dividends from $VTI. $2000 will be non-qualified and $18000 will be qualified. They can also sell a portion of their $VTI and pay X% LTCG tax"
@money_cruncher on X 2025-07-25 13:23:36 UTC 139.6K followers, 1546 engagements

"9. Car loans There will be a $10k deduction on car loan interest effective from 2025-2028. The deduction will be reduced by $XXX for each $1000 by which your gross income exceeds $100k (or $200k if married). The final assembly of the car must be within the US to qualify"
@money_cruncher on X 2025-07-04 23:26:23 UTC 139.4K followers, 79.2K engagements

"Here are some strategies to lower your AGI: X. Max your pre-tax 401k/403b X. HSA (if eligible) X. FSA X. Timing of RSU sales X. Tax loss harvesting X. Rental losses (spouse REPS or short term rentals)"
@money_cruncher on X 2025-07-23 13:20:30 UTC 139.6K followers, 3163 engagements

"In addition you must materially participate in your rental. You need to meet one of the following tests: Participate more than XXX hours OR Participate for at least XXX hours and at least as much as any other individual"
@money_cruncher on X 2025-07-24 13:16:42 UTC 139.6K followers, 3786 engagements

"6. Overtime If you are a non-exempt W-2 employee who receives overtime pay and earns under $150K/$300K MAGI (single/joint) you can get up to a $12500/$25000 (single/joint) deduction. If base rate = $20/hr and overtime = $30/hr then $10/hr * OT hours is deductible"
@money_cruncher on X 2025-07-22 13:12:18 UTC 139.5K followers, 5299 engagements

"Here's how his tax return will likely look: Standard deduction: $15750 + $2000 (age XX or blind) = $17750 Senior deduction: $6000 Taxable income: $21250"
@money_cruncher on X 2025-07-21 13:18:30 UTC 139.4K followers, 3212 engagements

"If he had not made the irrevocable trust tax play he would have paid roughly $1.5B in estate taxes if he passed away. That's $1.5B of wealth his heirs would've been able to retain. But he didn't just stop there"
@money_cruncher on X 2025-07-24 23:17:18 UTC 139.6K followers, 9062 engagements

"For the purposes of SALT MAGI is defined as AGI plus income exempt under IRC XXX XXX or XXX. These sections include foreign earned income and income sourced in Guam or Puerto Rico. For most people MAGI will simply be your Adjusted Gross Income (line XX of Form 1040)"
@money_cruncher on X 2025-07-23 13:20:29 UTC 139.6K followers, 3412 engagements

"There is a lot of misinformation and confusion about the "no tax on overtime" Let me break it down exactly how it works (with real examples and tax impacts):"
@money_cruncher on X 2025-07-06 13:18:41 UTC 139.4K followers, 152.2K engagements

"The new tax bill raises the SALT cap from $10000 to $40000. But for high earners it could come with a hidden SALT torpedo pushing your tax rate up to 45%. Let's walk through how it works:"
@money_cruncher on X 2025-07-23 13:20:26 UTC 139.6K followers, 89.1K engagements

"@GavinNewsom #48 on the list in the state tax competitiveness:"
@money_cruncher on X 2025-07-19 00:04:43 UTC 139.4K followers, 15.9K engagements

"This allows you to get XXX% depreciation for things like: - carpets - specialized wiring - cooling systems - ornamental millwork - and much more"
@money_cruncher on X 2025-07-24 13:16:40 UTC 139.6K followers, 5474 engagements

"If you have kids pay attention. The new tax bill significantly upgraded XXX savings plans. Here's everything that's changing:"
@money_cruncher on X 2025-07-13 13:55:26 UTC 139.5K followers, 406.9K engagements

"When a rich person passes away they have to pay an estate tax. It's basically a tax on transferring property cash stocks etc to their heirs. But with smart tax planning you can minimize or even avoid it"
@money_cruncher on X 2025-07-24 23:17:15 UTC 139.6K followers, 12.6K engagements

"There is still so much confusion about the new "no tax on Social Security income" Its the most asked question I get about the tax bill. Here's the full breakdown (with examples):"
@money_cruncher on X 2025-07-21 13:18:25 UTC 139.6K followers, 82.6K engagements

""I need to park $50000 of cash for the next XX months. Where should I put it" I personally would use: - $VUSXX (Vanguard Treasury MM Fund) state tax exempt XXXX% yield OR - $VMSXX (Vanguard Municipal MM Fund) if you are a high earner federal tax exempt XXXX% yield"
@money_cruncher on X 2025-05-29 18:29:56 UTC 139.6K followers, 82.1K engagements

"90% of Americans never got a tax break for donating to charity. The new tax bill completely overhauls charitable giving. X tax planning moves to make before the rules change:"
@money_cruncher on X 2025-07-20 13:40:11 UTC 139.6K followers, 106.5K engagements

"The new tax bill has nothing to do with Social Security. The tax bill creates a new $6000 deduction for people who are age XX and older during the tax year. Quick example"
@money_cruncher on X 2025-07-21 13:18:25 UTC 139.4K followers, 5813 engagements

"GRAT freezes a portion of an estate's value today while shifting the appreciation free of estate tax. So he contributed stocks into the GRAT when the share price was low and rode the wave. This helped him avoid $4B in estate taxes"
@money_cruncher on X 2025-07-24 23:17:22 UTC 139.6K followers, 7224 engagements

"The OBBBA tax bill increases the state and local tax deduction cap from $10000 to $40000 for single/married filing jointly increased by X% for inflation. However there is an income limitation that high earners shouldn't ignore. Let me explain"
@money_cruncher on X 2025-07-23 13:20:26 UTC 139.6K followers, 5123 engagements

"In 2012 Jensen created an "irrevocable trust" for the benefit of his children. The main advantage of such a trust is that you are removing assets you personally own into a trust which removes them from being subject to potential estate tax"
@money_cruncher on X 2025-07-24 23:17:16 UTC 139.6K followers, 11.8K engagements

"The new tax bill allows you to write off car loan interest. BUT only certain types of cars and loans qualify. Here's exactly how it works:"
@money_cruncher on X 2025-07-10 13:11:25 UTC 139.6K followers, 317K engagements

"The new tax bill made a massive change: XXX% bonus depreciation for property placed in service after January XX 2025 instead of 40%. This allows for big tax savings for real estate investors"
@money_cruncher on X 2025-07-18 13:10:15 UTC 139.6K followers, 70.8K engagements

"The new tax law made a lot of changes for business owners and side hustlers with many provisions going into effect retroactively to 2025. My goal is to cover them so you are informed on the impacts on your taxes"
@money_cruncher on X 2025-07-16 13:17:34 UTC 139.4K followers, 15.3K engagements

"Now this is just what we see based on the filings. He could also be using sophisticated strategies to lower his taxes like borrowing against trust assets (with a personal guarantee) and reducing his income taxes"
@money_cruncher on X 2025-07-24 23:17:23 UTC 139.6K followers, 6872 engagements

"1. Clean Vehicle Credit (30D) If you buy a new plug in electric vehicle (EV) or fuel cell vehicle (FCV) you may qualify for a $7500 tax credit (reduction of your tax liability not a deduction) The new law removes this credit as of October X 2025"
@money_cruncher on X 2025-07-17 13:07:16 UTC 139.5K followers, 7856 engagements

"So they can live off $80000 per year (with a federal tax bill of about $2030) for a net cash amount of $78000. or about $6500 per month after tax. They plan to continue this strategy for the next X years taking advantage of the senior deduction"
@money_cruncher on X 2025-07-25 13:23:37 UTC 139.6K followers, 1056 engagements

"🚨New tax bill is removing most energy tax credits. EVs solar panels and home upgrade credits are all expiring very soon. Here's what you need to know (and why waiting could cost you thousands):"
@money_cruncher on X 2025-07-17 13:07:15 UTC 139.6K followers, 69.2K engagements

"4. T-bill ETFs If you don't want to buy T-bills directly from TreasuryDirect or your brokers you could buy a T-bill ETF X main options here: X. $VBIL (4.20%) - Vanguard 0-3 Month Treasury Bill ETF X. $SGOV (4.18%) - iShares 0-3 Month Treasury Bond ETF"
@money_cruncher on X 2025-06-18 23:30:11 UTC 139.5K followers, 11.5K engagements

"3. Itemized SALT cap SALT cap (state and local taxes) increases from $10k to $40k in 2025 (phased down for MAGI $500k-$600k). Also mortgage insurance premiums will be deductible again (starting in 2026)"
@money_cruncher on X 2025-07-22 13:12:14 UTC 139.5K followers, 7709 engagements

"Currently these trusts also own 59024370 shares (29512185 each) due to stock splits inside the GRAT and are worth around $10B (see SEC filing). So what's the main benefit of GRATs and how is he avoiding estate taxes"
@money_cruncher on X 2025-07-24 23:17:20 UTC 139.6K followers, 7892 engagements

"I'm making a thread answering questions about the new tax bill Comment below if you have any questions 👇"
@money_cruncher on X 2025-07-20 02:21:21 UTC 139.6K followers, 28.8K engagements

"Now when you sell this rental you will face a depreciation recapture. Here are X strategies to lower the impact: pass away and give the rentals to your children 1031 exchange direct indexing to do tax loss harvesting installment sales opportunity zones"
@money_cruncher on X 2025-07-18 13:10:19 UTC 139.4K followers, 28.8K engagements

"Say you are making $150000 of W-2 income. You pay $7500 of state taxes $6000 of property taxes $10000 of mortgage interest and $XXX of mortgage insurance premiums. Before the tax bill your total deductions would be $10000 (taxes cap) + $10000 = $20000 deduction"
@money_cruncher on X 2025-07-22 13:12:15 UTC 139.5K followers, 7286 engagements

"I inherited $500000 what should I do I would: X. Pay off any debt with interest of 7%+ X. Invest the rest in $VTI and $VGT What would you do"
@money_cruncher on X 2025-06-28 00:35:07 UTC 139.5K followers, 84.7K engagements

"@LeadingReport This just means that the sales tax will increase"
@money_cruncher on X 2025-07-04 16:56:57 UTC 139.5K followers, 140.3K engagements

"With the new tax bill you will be able to deduct the entire $13500 of taxes $10000 of mortgage interest and $XXX of mortgage insurance premiums. Deduction total = $24200. The delta between the old and new tax bill is roughly $XXX of tax savings in that situation"
@money_cruncher on X 2025-07-22 13:12:15 UTC 139.5K followers, 6956 engagements

"Being a real estate investor is one of the best ways to save on taxes. With the OBBBA bonus depreciation is now back to XXX% in 2025. Heres how smart investors are leveraging this to cut their tax bills:"
@money_cruncher on X 2025-07-24 13:16:38 UTC 139.6K followers, 142.2K engagements

"For their brokerage they have a XX% cost basis and XX% capital gains. They decided to sell $60000 of $VTI (with $6000 as basis). Total long-term capital gains = $60000 - $6000 = $54000 taxed at 0%"
@money_cruncher on X 2025-07-25 13:23:36 UTC 139.6K followers, 1421 engagements

"I have a very exciting newsletter coming tomorrow at 8:30 AM ET. Its all about step-up basis rules reducing capital gains tax irrevocable trust swap powers basis planning and more. Guaranteed to save you money on taxes. Sign up here: 👇"
@money_cruncher on X 2025-05-31 00:47:01 UTC 139.6K followers, 12.3K engagements

"The new tax bill makes major changes to the child tax credit dependent care credit XXX plans and more. If you have kids (or plan to) you need to read this:"
@money_cruncher on X 2025-07-19 13:33:29 UTC 139.6K followers, 88.3K engagements

"I love Vanguard funds. Heres why: Vanguards average ETF expense ratio is just 0.05%. The industry average ETF expense ratio is 0.22%. These costs compound over the long term and could cost thousands of dollars"
@money_cruncher on X 2025-07-03 13:19:40 UTC 139.5K followers, 27.9K engagements

"When you sell the rental you will be subject to depreciation recapture. You can: Use a like-kind exchange to defer the gains (IRC Section 1031). Pass it down to your heirs so they receive a step-up in basis. Opportunity zones (avoid capital gains)"
@money_cruncher on X 2025-07-24 13:16:42 UTC 139.6K followers, 3481 engagements

"On December XX 2012 Jensen transferred 584000 Nvidia shares to the trust. At that time these shares were worth only $X million. He was able to use his gift and estate tax exemption ($5M in 2012) to avoid any gift taxes:"
@money_cruncher on X 2025-07-24 23:17:17 UTC 139.6K followers, 11.1K engagements

"Real estate buildings can be depreciated over XXXX or XX years for tax purposes. A cost segregation study (IRS Pub 5653) done by CPAs and engineers allows you to reclassify some of the building costs into X X and 15-year property for tax purposes:"
@money_cruncher on X 2025-07-24 13:16:39 UTC 139.6K followers, 6255 engagements

"He also diversified his tax and gift strategy by creating a Grantor Retained Annuity Trust (GRAT). Jensen and Lori both transferred 3078820 shares into that trust in 2016 (see screenshot) This transfer likely had a small gift tax impact"
@money_cruncher on X 2025-07-24 23:17:19 UTC 139.6K followers, 8795 engagements

"People say "Trump tax bills gave tax cuts only to billionaires" I analyzed IRS data from 152.9M tax returns and the new tax bill to find out if that's true. Here's what you must know:"
@money_cruncher on X 2025-07-15 12:37:07 UTC 139.5K followers, 80.8K engagements

"Married couples over XX can realize $46700 tax free due to the new tax bill: $31500 standard deduction $3200 additional standard deduction $12000 senior deduction ($150k MAGI) This means that you can do $46700 of Roth conversions at X% (live off taxable brokerage postpone SSB)"
@money_cruncher on X 2025-07-24 01:04:11 UTC 139.6K followers, 52.2K engagements

"Should I use Vanguard or Fidelity for my investments Both are good options. Vanguard - low cost funds better money market funds Fidelity - better support UI cash management You can use Fidelity and buy Vanguard funds. Or use Vanguard if you need a higher yield MMF"
@money_cruncher on X 2025-06-29 13:31:04 UTC 139.5K followers, 49.5K engagements

"You can: shift bond income into retirement accounts minimize dividends by favoring growth stocks shift taxable interest into municipal bonds (which dont impact MAGI under the SALT cap rules) offset capital gains with losses"
@money_cruncher on X 2025-07-23 13:20:31 UTC 139.6K followers, 6353 engagements