I can't afford to max out both. Already maxing pretax 401k.
My marginal CA tax rate is 9.3%. CA doesn't recognize HSAs so I pay state tax on contributions, dividends and capital gains though I still avoid federal taxes. I know the usual advice is to prioritize HSA but I'm not quite sure how being in CA affects that math. Federal marginal rate 32%.
I plan on staying in CA forever, most likely.
In my 30s now.
Really a matter of whether I'll use HSA funds in the present or just let it keep growing and not touch it. I'll still contribute to HSA regardless but withdrawing money now means more into the mega backdoor Roth.
Thanks for any advice.
My marginal CA tax rate is 9.3%. CA doesn't recognize HSAs so I pay state tax on contributions, dividends and capital gains though I still avoid federal taxes. I know the usual advice is to prioritize HSA but I'm not quite sure how being in CA affects that math. Federal marginal rate 32%.
I plan on staying in CA forever, most likely.
In my 30s now.
Really a matter of whether I'll use HSA funds in the present or just let it keep growing and not touch it. I'll still contribute to HSA regardless but withdrawing money now means more into the mega backdoor Roth.
Thanks for any advice.
Statistics: Posted by Ciel — Tue Oct 29, 2024 1:00 am — Replies 0 — Views 70
