I make 200k per year on w2.My spouse is home maker. How do i invest only to pay 10k in fed taxes?

I have 8k in IRA and my company does not have a 401k plan and they do not intend to have one in teh future.I make 200k per year on w2.My spouse is home maker. How do i invest only to pay 10k in fed taxes?
u need to open another iraI make 200k per year on w2.My spouse is home maker. How do i invest only to pay 10k in fed taxes?
If you find out, let me know. We'll get rich marketing it.





Wage earners like you and me are best advised to focus on maximizing the return on investments and on our labor and to avoid tax shelters. We don't have the economies of scale to deal with the eventual tax audits and their nasty consequences.





By all means take advantage of any IRS-sanctioned opportunities to reduce or defer tax, such as 401(k), IRAs, Roth IRAs, health savings accounts, flexible spending accounts and the like. I don't know why you won't consider buying a house, but maybe you could buy some investment realty. But don't waste energy fretting over goals like paying only 10k in federal income tax.
I'm really sorry ... I do not have any information to help you with.





But I feel very strongly that you should hire a reputable tax consultant. I know for some people, even those that make $200K, it's an expense they feel they can't afford. But I have an investment advisor, and I swear it's the best money I've spent to make money. If you treat your tax consultant well, let him/her know both you and wife's goals in the future and for now, and don't hesitate to pay him/her a fair fee, then I am sure you will find that expertise will work very hard for you so that you are actually going home with more dollars in your pocket.





Bonne chance.
put most of your money into stocks %26amp; bons.the rest into your retirement fund. then kick back and watch your money grow.