Hey guys,
I was thinking of how to avoid an increased monthly REPAYE payment if I choose to moonlight as a 2nd and 3rd year resident. What I was thinking was just contributing 100% of my moonlighting income (most likely only 1-2 shifts per month) to a tax deductible 401K, which may have to be a solo 401K considering, I assume, the moonlighting places won't offer me a traditional 401K. This way my REPAYE payments would only be based off my residency AGI. I just don't want to spend my extra time moonlighting if it turns out it's not worth it in the end by having higher monthly payments from the higher AGI. Does this sound like a feasible option or is there something I'm misinformed on?
Thanks for your time, Tyler
I was thinking of how to avoid an increased monthly REPAYE payment if I choose to moonlight as a 2nd and 3rd year resident. What I was thinking was just contributing 100% of my moonlighting income (most likely only 1-2 shifts per month) to a tax deductible 401K, which may have to be a solo 401K considering, I assume, the moonlighting places won't offer me a traditional 401K. This way my REPAYE payments would only be based off my residency AGI. I just don't want to spend my extra time moonlighting if it turns out it's not worth it in the end by having higher monthly payments from the higher AGI. Does this sound like a feasible option or is there something I'm misinformed on?
Thanks for your time, Tyler
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