Fellow partners, what are your tax saving strategies? I am on a K1 with a national firm and pay about 45% in taxes (federal + state). Maxing out my 401(k). What else can I do? My company tax advisor has not been much help. Thanks in advance.

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Own alpacas

Yes

There aren’t a ton of things you can do unless you want to basically start another business (like real estate or as P1 said legit alpacas).

Otherwise max retirement contributions and HSA. We have a loan program that works basically like a pre-tax bond that reduces tax burden until you pull the money. Pretty incredible but also puts more money into the firm than our equity so it’s a trade off.

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