My wife and I have reached an income level recently that has driven us to start looking into tax strategies to lower our taxable W-2 income (we previously threw up our hands and said it is what it is). The strategic planning we are looking for would be beyond your typical 401k max out, HSA, backdoor Roth IRA, charitable donations, etc. We have spoken to a couple tax strategists (JD/CPA combos) recently and I’m skeptical.
Has anyone used a commercial solar leasing strategy, a donation-based strategy or a heavy machinery leasing business to lower their income tax? Those strategists we have spoken with have been reported “tax pros” admittedly targeting us with ads and I thought I’d poll the group to see if folks had tried this or if it has been deemed a scam by the collective.
They charge around $10-45k per year depending on the plan and complexity, but we would be on the very low end in our position (if we can even justify this expense). And the fee is returned in full if you do not save at least 3x the fee on your taxes, presumably in deductions.
Open to folks’ thoughts to get beyond the NRY portion of this sub.