Lower-income taxpayers can face high tax rates if most of their income come from wages, while billionaire like Warren Buffet paid only 17.4 percent of his taxable income in federal income taxes. Anyway, our tax code can be unfair toward the middle class but you can learn the tax strategy from high earners to minimize your taxes. Here are 4 high-earner tax tips that may help middle-class filers:
- Itemize
- Donate things in addition to cash
- Take advantage of health saving accounts
- Own real estate if you can afford it