From Investing.com: 2025-05-01 06:08:00

High-net-worth individuals face complex financial challenges, requiring strategic tax planning to preserve wealth. Tax-deferred accounts offer compounding advantages and reduce taxable income. Traditional IRAs and 401(k)s provide pre-tax contributions and timing advantages. Defined Benefit Plans allow high contributions and tax deductions. Roth conversions can lower future taxes. Strategies to reduce capital gains taxes include tax-loss harvesting and Qualified Opportunity Zones. Charitable giving offers tax benefits, while trusts aid in wealth transfer. Tax-efficient investments and business tax strategies further minimize tax burdens. Staying ahead of tax law changes is crucial for long-term financial success.



Read more at Investing.com: A Comprehensive Guide to Tax Planning for High-Net-Worth Individuals