Quote:
Originally Posted by AndyC
Wouldn't increasing your 457(b) also decrease your withholding? The withholding tables are based on taxable wages and not gross wages.
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It would lower it, but you can only bump it so high before you max out. In my case, my wife and I both have such plans. I am really at the end of what I can do in terms of tax deferred accounts (IRAs and 457(b)). Fortunately, we still have enough deductions that we can itemize. We are also adding a vacation home that will afford us some deductions in the form of "maintenance."
