Monkeys -
With bonus check season in full swing, curious if any associate / VP level folks who live in NYC have a good tax strategy. With federal + state + NYC taxes at like +35% of income, any little bit of tax sheltering probably helps.
Thinking things like maxing out 401k contributions, moving to miami lol, etc.
Not much you can do. Two things I do (not all will be options for people):
1) 401k max out
2) invest directly into fund (defer tax, but can get return on full amount)
Anyone whose income is primarily wage income is not going to have very many levers to pull (aside from the obvious retirement-related ones), short of establishing residency in a tax-friendlier jurisdiction.
Move out of NYC to avoid the city tax.
You'll be closer to 40% if you're pulling in >450K in cash comp on W2
Best bet is to establish residency elsewhere.
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