Simple ways to pay less in taxes while earning 270k+ (legal tax reduction strategies)

Hey tax gurus! I need some advice on how to hang onto more of my money. I'm a 33 year old veterinary surgeon making around $365k annually as a W2 employee at a specialty animal hospital. I've been good about maxing out my Roth IRA through backdoor contributions every year, and I've got my home mostly paid off (about $65k remaining on the mortgage). I feel like I'm doing the basics right, but I'm getting killed on taxes and want to explore some additional strategies to legally reduce my tax burden. Nothing crazy complicated - just straightforward approaches I might be missing. Any insights from those who've been in similar situations would be super appreciated. Thanks in advance!

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19 comments

Molly Hansen

•8M

Several options you should consider based on your income level: 1) Make sure you're maximizing your employer's 401k match if they offer one. At your income level, you should be maxing out your 401k contribution ($23,000 for 2025 plus catch-up if you're over 50). 2) Look into an HSA if you have a high-deductible health plan. That's triple tax advantaged - contributions are pre-tax, growth is tax-free, and withdrawals for qualified medical expenses are tax-free. 3) Consider tax-loss harvesting if you have a taxable investment account. This lets you offset capital gains with losses. 4) Check if your employer offers any deferred compensation plans, which can help push some income into future years. 5) If you have any business income on the side, you might qualify for the 20% QBI deduction. 6) Look into municipal bonds for your taxable accounts - the interest is typically federal tax exempt.

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Molly Hansen

•8M

Unlike Roth IRAs, HSAs don't have income limits for contributions. The only requirements are that you're enrolled in a qualifying high-deductible health plan and aren't claimed as a dependent on someone else's tax return. You can contribute the maximum regardless of your income level. For 2025, the contribution limits are $4,150 for self-only coverage and $8,300 for family coverage, with an additional $1,000 catch-up if you're 55 or older. It's one of the best tax advantages available regardless of income level.

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Skylar Neal

•8M

Hey there! I was in a pretty similar situation last year (orthopedic surgeon, similar income). I tried everything - researching online, asking colleagues, even had a consultation with a CPA that wasn't super helpful. Then I discovered https://taxr.ai and it was a game changer for my tax situation. Their AI analyzed my previous returns and found several deductions I was missing. For example, they pointed out I could be contributing to a 457(b) plan IN ADDITION to my 401k, effectively doubling my pre-tax retirement contributions. They also suggested some specific tax-efficient investment strategies for my situation. The advice was surprisingly personalized - way beyond what generic articles suggested.

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Skylar Neal

•8M

They identified several specific strategies beyond the 457(b). In my case, they pointed out I wasn't properly tracking business expenses for conferences and continuing education, which was leaving money on the table. They also suggested restructuring some of my investments to be more tax-efficient and timing my charitable contributions more strategically. As for providing information, you can be as detailed as you're comfortable with. The more information you provide, the more tailored the recommendations. However, even with just my previous tax returns and basic financial situation, they were able to provide significant value. Unlike generic online advice, they specifically identified which strategies applied to my exact situation and income level.

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Kelsey Chin

•8M

Alright, I was super skeptical about taxr.ai but I gave it a shot after seeing it mentioned here. I've got to admit I was wrong! I uploaded my last two returns and answered a few questions about my practice (I'm a dermatologist), and it found over $14k in potential tax savings I was missing. The biggest one for me was that I hadn't set up a Defined Benefit Plan alongside my 401k. My income is similar to yours, and apparently at our income level, that's a major tax advantage. Also got some great advice about health insurance deductions I wasn't maximizing. What impressed me was how it explained everything in plain English and even provided links to IRS documentation. Way more helpful than the last two accountants I've used!

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Norah Quay

•8M

If you're getting hammered with taxes AND you need to talk to the IRS about anything, check out https://claimyr.com - I used them after trying for DAYS to get through to the IRS about an issue with my quarterly estimated payments. They somehow got me connected to a real IRS agent in about 20 minutes when I had been trying for literally weeks. You can see a demo of how it works here: https://youtu.be/_kiP6q8DX5c I was honestly floored that it actually worked. The agent was able to help me sort out my estimated tax payment issue which saved me from potential penalties. When you're in a high tax bracket like we are, having direct access to resolve issues quickly is super valuable.

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Norah Quay

•8M

It's not magic - they use a system that continuously redials the IRS using specific timing algorithms until they get through. Once they're in the queue, they hold your place and call you when they have an agent on the line. You don't have to sit on hold for hours. They don't claim to have special access to the IRS. What they offer is technology that handles the frustrating wait time for you. Instead of you spending hours dialing and waiting, their system does it automatically and only connects you when there's actually an agent ready to talk. It's basically outsourcing the annoying hold time.

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Jessica Nolan

•8M

I'm eating crow on this one. After dismissing Claimyr as BS, I had a major issue with my quarterly tax payments not being properly credited and faced potentially thousands in penalties. In desperation, I tried the service. No joke - I was connected with an actual IRS agent in 27 minutes. Resolved my issue in one call. Would have taken me days of attempts otherwise. For high earners dealing with complex tax situations, the time saved was absolutely worth it. The agent was able to correct my payment allocation issue immediately, which prevented incorrect penalties from being assessed. Sometimes it's worth admitting when you're wrong!

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Angelina Farar

•8M

Don't overlook charitable giving strategies. At your income level, you can benefit from: 1) Donor-advised funds - contribute in high-income years, take the deduction immediately, and distribute to charities over time 2) Qualified Charitable Distributions from retirement accounts (if applicable) 3) Donating appreciated stocks directly to charities instead of cash (avoid capital gains tax) I saved about 15k in taxes last year through strategic charitable planning alone. A good tax advisor can help structure this properly.

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Angelina Farar

•8M

Most major investment firms like Fidelity, Vanguard, and Schwab offer donor-advised funds with minimums around $5,000 to open and $500-1,000 for additional contributions. I personally use Fidelity Charitable because their platform is user-friendly and their fees are reasonable. The amount that "makes sense" depends on your tax situation, but generally, it's most beneficial when you're bunching multiple years of charitable contributions into a single tax year to exceed the standard deduction threshold. For someone at your income level, contributing $10,000+ would typically provide meaningful tax benefits, especially if you're already itemizing deductions.

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KingKongZilla

•8M

I'm a physician who went the real estate route. The tax benefits are real - depreciation, mortgage interest, and expense deductions. But be cautious about passive losses - at your income level, you may not be able to deduct those against your W2 income unless you qualify as a real estate professional (which is tough with a full-time medical career). Consider syndications or REITs if you want the benefits without active management. Just do your due diligence - there are many questionable deals out there.

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