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« on: March 31, 2020, 08:20:16 PM »
HI guys,
My wife and I serve with an NGO in Cambodia. We are technically still residents of CA. We pay almost no federal income tax because we make about 40k a year but after the deduction and housing allowance we dont really have any income to be taxed on. However I am payed via a 1099 so we DO have to pay self employment taxes. They are the worst!
My question is this: I am struggling to find how with my current situation with already not paying any income taxes, using a IRA or solo 401k or 403b (have access to this), is more beneficial than the RothIRA. The reason is because putting money into any of these does not reduce my self employment taxes right, and these are really the only taxes I pay. Trying to look into an HSA as well but having a hard Time finding if I can being international.
Any word of advice on how to proceed?