Maximize Deductions For High Income Earners

[Colton Saucier]

*Incomes over 8-Figures*

So I’ve tried to avoid publicly coming out as far as what my financial situation will look like going into 2021, however I keep getting conflicting advice from each new CPA and tax attorney I speak with. For those few who have this problem, what would you recommend for someone looking to maximize as many deductions as possible? I’m fairly young (24), have invested in one passive apartment syndication (so familiar with cost segregation), currently rent in Austin TX to keep expenses low, and also a realtor (would like to make sure I qualify as a QREP)

[Eamonn McElroy]

Your post is too vague, perhaps intentionally so, to give you any kind of answer that's going to add value.

Most CPAs don't provide fact pattern specific and actionable advice on their introductory calls.  Personally, I view those calls as a chance for you to determine if the firm has experience with client types such as yours and whether you're a good fit for their practice, and vice versa.

I'd take with a grain of salt any advice that a CPA or attorney is willing to give out on a 30 minute introductory call to a non-client after a bird's eye view of their facts and circumstances.