The Tax Wizard of OZ
The tools available to investors for income tax planning seem to decrease every decade. Unless you are a business owner, there is minimal tax planning one can do to lessen taxes outside of depreciating rental property and maximizing contributions to retirement accounts. Giving assets to charity can be effective, but you are relinquishing control of that money which does not work if you still need those funds. If you struggle with writing checks to the Wicked Witch of the West, better known as the IRS, then Opportunity Zone investing might be of interest to you...
