Karlton Dennis
@karltondennis·1.1M subscribers·2.1K videos
How Millionaires Reduce Their Taxes in 2026
Posted
July 1, 2026
Views
1,727
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95
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7.70%
July 1, 2026
1,727
95
38
7.70%
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Millionaires are the IRS's favorite target, and most high earners watch federal, state, and FICA taxes eat into half of what they make every single year. The real difference between the people who overpay and the people who keep more of their income usually comes down to one thing: whether they work with a tax strategist who plans ahead or a CPA who only reports last year's numbers.
In this video, licensed Enrolled Agent Karlton Dennis breaks down five strategies that high income earners and business owners can use to legally reduce their tax burden while building wealth at the same time. He walks through the spousal real estate professional strategy and how a cost segregation study paired with bonus depreciation can create major first year paper losses, the energy investment angle using intangible drilling costs and a working interest in oil and gas, and cash balance plans that let business owners shelter far more than a standard 401k. He also covers the Augusta rule under Section 280A and how bitcoin mining equipment can qualify for 100% bonus depreciation.
These are the same strategies his team implements for six, seven, and eight figure entrepreneurs every year, and most of them get completely ignored by traditional CPAs. Understanding how the tax code is designed to reward investors and business owners is what separates the people who keep their wealth from the people who fund the government first. If you want to stop overpaying and start planning months ahead of the year end deadline, this breakdown is a must-watch.
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#taxstrategy #taxplanning #karltondennis
*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.
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