Top Tax Strategies High Net Worth Clients Are Using

This episode focuses on practical tax strategies, starting with the basics before moving into more advanced planning. The speakers recommend staying organized, working with a qualified tax professional, maximizing employer retirement plans like a 401(k), considering Roth IRAs, and using Health Savings Accounts when eligible because of their strong tax advantages. For people with more complex finances, they discuss strategies such as Roth conversions during lower-income years, donating appreciated stock instead of cash, using donor-advised funds, making lifetime gifts to family members, and placing different investments in the most tax-efficient types of accounts. They also mention taking full advantage of employee benefits, deferred compensation plans, life insurance strategies, and self-employed retirement plans.