Things I have an extreme amount of aesthetic distaste for: Systems which have an obviously optimal play which civilians are largely unaware of and participants are unable to tell civilians about due to professional guild rules. This is obviously an affront to justice.
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One of the best things about programming as a profession, and a hill I will die on, is that we did not standardize on “You want to sort an array? Talk to a licensed programmer; I can’t give programming advice.” and “I am a licensed programmer but not *your* licensed programmer.”
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There’s also a thing called a “mega backdoor Roth” that one can use with some 401k plans, generally with megacorps. Same idea but with way higher limits.
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One additional benefit of megabackdoor contribution is that it is not susceptible to the pro-rata rule, which only applies to the IRA section of the tax code (as far as I understand, your mileage may vary, I'm not an accountant, yada yada yada)
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Would add that the only thing to be wary of is the pro rata rule. Which should be googled in tandem with backdoor if you have existing large traditional IRA balances
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Love this. A magic word that my CPA gave me this year is “HRA.” Will save me at least $5k this year, and as a solo founder makes the pain of health insurance more bearable. Best secret, you can set it up almost automatically on the web for ~$150. (In US, YMMV by state of course.)
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And take advantage of the $39k/ year capital gains exemption, which can be just as effective as the roth AND can be used before retirement.
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