USA Tax advice for a client


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I am a recent Accounting Degree graduate and I need some seasoned advice on a client situation. The client is in the medical field and recently received a$60,000 increase in wages for 2020, and needs advice on how to avoid a large tax bill next year. We discussed possibly increasing her 401K contributions and adjusting her W-4. What other advice can I give her? Any suggestions would be greatly appreciated.
 
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bklynboy

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Does the person itemize? If yes increase Charity and Take a second mortgage? Buy LTC policy depending on medical expense deduction?
HSA contributions? 529 account?
Buy Real Estate if making under 150K to deduct losses?
Is wages eligible for deferred comp so she doesnt have to take it in 2020?
Several other strategies available as well. Honestly - are you really a tax accountant if 401K is the extent of the advice?
 

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