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Nw Iowa | Find a bracket that you can max out, one that is abit uncomfortable and plan from there. Maxing out 30-35% bracket may be your cost of making money, maybe 50% isn’t . I agree buy all inputs needed, take care of any major maintenance items that are needed. Fund your health savings account if you have to pay health insurance with a bigger deductible. If you are going to have cash when things turn, you pretty much have to cross the River, the tax River, and when on other side you actually have cash. High interest will change a lot of tax planning both if you are borrowing or not. I agree with above poster on all things but prepaying principle on land, not a tax deduction, if interest locked in cheap, you can make more in a cd.
Edited by jdironman 8/25/2023 16:14
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If you have 250k of cash
