Look at diverting investment income to your children
If you’re in a high tax bracket and have children, you might be able to get a benefit by holding some investments in your children’s names. Kids can earn up to $1,050 tax free, and the next $1,050 gets taxed at the child’s lower rate. Moreover, new tax reform laws give kids a 10% rate on an additional $2,550 of income. The net result can be thousands in saved taxes compared to what you’d pay simply keeping investments in your own name.