Reply to For those with high HHI ($500K), tax saving strategies

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]So let me get this straight. You asked a CPA. You didn't like the correct answer s/he gave you. And so you thought you'd crowd source this?

Maybe count your blessings to be doing so well that you can contribute that level of taxation and be glad you don't live in other places of the world where taxes are higher (because the USA is basically the world's tax haven).

The short answers is the same your CPA gave you. You're salaried employees. Short of increasing exclusions like 401K contributions, there really are no magic tricks here. And thank God for that. Pay your fair share, damnit. [/quote]

Why is reducing someone's tax burden a bad thing all of a sudden? [/quote]

It isn't!  Most of us in the making $178K and up are paying the majority of taxes in this country.  Someone making $500K is paying even more.  But yet we don't use the roads or services any more than the person not paying any taxes or paying barely anything.  SO yes, we are happy to contribute, but the solution to a budget problem is not to tax us more....it's to budget better.

Smart people work within the law to minimize their taxes.  And for W2 workers it is challenging.  And yes, when I have paid more in Federal taxes than most will earn in a lifetime, I think I've paid my fair share and would rather have my money to direct to charities that actually fully utilize the money (and to my own family and friends)[/quote]

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