A Salary Reddit group discussion features a 35-year-old woman from New York earning over $500k annually, revealing that she pays roughly $167k in taxes, excluding additional state taxes. The commentary emphasizes the perspective of being grateful for high income despite heavy tax payments. Suggestions for tax reduction include leveraging real estate investments and utilizing cost segregation for depreciation. The post collectively encourages high-income earners to pursue savvy financial strategies that can mitigate their tax liabilities while achieving long-term financial goals.
Buying real estate is one of the best assets for minimizing taxes, especially for high earners, as it allows significant deductions like cost segregation.
It's better to make more money and pay a lot of taxes than it is to earn less and pay less, highlighting the importance of having a high income.
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