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

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[quote=Anonymous][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. Looking to not pay your fair share, which this PP thinks OP is trying to do (and I agree, certainly smells that way to me as well), is a "bad thing." [/quote]

Umm....most of us earning $400K+ are paying way more than "our fair share". As a simple example, we pay Medicare taxes on ALL earnings, yet when we hit 65, it will cost us well over $1K per each of us to have medicare, a gap plan and a prescription plan.  We don't get any reduced rates, and in reality it will be much more than our healthcare was while we were working.  So yea, the fact that we basically are paying for 200+ people to have medicare while we still pay max rates for a crappy medical plan in our retirement, yeah we have the right to complain.

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