Had a baby this year, which means we'll be eligible to receive a full stimulus check and child tax credit for them when it comes to file 2021 taxes assuming our AGI is under $150,000 (married filing jointly). Our income may come in $5-$10k above $150,000 (some of our compensation is commission-based so it's a bit of a guessing game at this point). In anticipation of this I was looking into ways to try to lower our AGI before EOY to be able to receive the full stimulus check for our baby and the full child tax credit. I was thinking of beefing up my contribution to my employer-sponsored 401k plan. Am I correct in thinking that any contribution amounts to that plan will lower our AGI for this purpose? And if so, do employer matches (mine matches $.25 for every $1) factor into the deduction amount as well? And lastly, are there any other ways to lower AGI that I should be exploring?
