Module 5: Tax Management

Optimize Your Tax Strategy

Tax Fundamentals

Key Concepts

  • Taxable Income
  • Tax Brackets
  • Deductions
  • Credits

Tax Brackets

Progressive System

  • 10% - Up to $9,950
  • 12% - Up to $40,525
  • 22% - Up to $86,375
  • 24% - Up to $164,925

Common Deductions

401(k) 📊

Pre-tax retirement savings

Health Insurance 🏥

Premium payments

Mortgage Interest 🏠

Home loan interest

Tax Strategy

  • Maximize retirement contributions
  • Track all eligible deductions
  • Plan across tax years
  • Consider tax-advantaged accounts

Level 5 Challenge

Manage $100,000 annual income:

  • 401(k): Min $10,000
  • Health Insurance: Up to $5,000
  • Mortgage Interest: Up to $10,000
  • Target: Tax rate below 20%

Start Tax Planning

Ready to optimize your taxes?

Start Level 5 →