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Tag Archives: decreasing income to save on taxes

Should I Try To Make Less Money?

less taxes with lower income

A huge topic in the online finance community is making more money. I read articles about how to make more money through side income or ways to increase your salary. For the last few years, I’ve been slurping those up like cold drinks on a hot day. When trying to get out of debt, you really can’t make enough money or make it fast enough. What about once those goals are met? Are there any negatives to earning more income? Is there ever a situation where I should try to make less money? Health Insurance My family would never qualify for Obamacare subsidies because Jim’s work has a group plan that we could join for $800 a month, but let’s assume he did not. For our family of three, if we made under $79,000, we could qualify for a subsidy. Our insurance policy might actually cover something, unlike our current $10,000 deductible plan. Luckily, we don’t have many health care expenses, as we’ve been pretty healthy up to this point. This isn’t really a huge issue at the moment. My daughter and I are still on a grandfathered Blue Cross plan that costs only $265 per month, so even with ...

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