Tax Planning for High-Income Women

Smart, Savvy, and Strategic: Tax Planning Secrets Every High-Earning Woman Needs to Know

Let’s Talk Strategy—Not Just Spreadsheets

Tax planning: the phrase alone might conjure visions of calculators and coffee-stained ledgers. But for breadwinning women with complex financial lives, tax planning isn’t a burden—it’s a power tool.

At Green Bee Advisory, we help high-net-worth women make intentional money moves. You’re running businesses, making boardroom decisions, managing investments, and raising families. You don’t just need a CPA—you need a tax-savvy partner who sees the big picture and speaks your language.

Let’s unpack how you can reduce taxes and elevate your long-term wealth. By working with a team like ours—smart, strategic, and holistic—you’ll free up more time and energy to focus on what truly matters: your family, your career, your wellness, and your impact.

1. Tax Planning = Wealth Strategy in Stilettos 👠 or Sneakers 👟!

Year-End Planning:
We certainly don’t shrug at quick wins such as maxing out 401(k) contributions, implementing tax-loss harvesting, and making charitable donations. However, we also keep our eye on the long-term planning moves.

Long-Term Planning is where additional value resides:
Strategic moves include:

·       Roth conversion timing

·       Business entity structuring

·       Estate planning integration

·       Income smoothing across high/low years

·       Layering in estate and legacy strategies that grow with you

💡 Tip: Long-term planning provides more flexibility—and often more savings over time.

3. Lowering AGI: The Hidden Wealth Booster💪🏽

High earners often find themselves phased out of deductions and credits. That’s where reducing AGI becomes your stealth wealth weapon.

Some of the strategies we have found to work well with our high-income women include:

·       Pre-tax retirement plan contributions (think SEP IRAs, solo 401(k)s, 401(k) plans coupled with cash balance plans)

·       Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs)

·       Deferring income or accelerating deductible expenses in your business

·       Layering business deductions across consulting, home office, and travel

And yes, we’ll keep it compliant, ethical, and efficient—because you shouldn’t have to sacrifice peace of mind to reduce your tax bill.

4. The QBID: Business Owners, Rejoice👏

If you own a pass-through business, the Qualified Business Income Deduction (QBID) could allow you to deduct up to 20% of your business income. This is currently a great tax break for the right type of business. Some of the characteristics of the QBID deduction include:

✅ It applies to S-corps, sole proprietors, and LLCs
🚫 It is not available to C-corporations
👀 We must watch out for income thresholds, especially for service-based businesses

We can work closely with your CPA to help you manage this deduction.

5. Charitable Giving: Good for the World 🌎 and Your Taxes

Your generosity doesn’t just change lives—it also creates tax opportunities. I love to help high income earners support the causes they champion. However, this is often a more tax-efficient way to go about their philanthropy goals. Some of our strategies to magnify your impact include:

·       Donated appreciated stock (avoid capital gains and deduct full value)

·       Use Donor Advised Funds to frontload donations in high-income years (see link to blog post on DAFs below)

·       Make sure gifts over $250 include the required documentation

👉 To learn more why giving with purpose matters: A philanthropy primer for wealth-builders 🙏🏼

6. Retirement Tax Planning = Freedom Later 🪂

Retirement isn’t just a destination—it’s a strategic tax timeline. The earlier you start, the more flexibility and freedom you’ll enjoy. Some of our tactics include:

·       Roth IRA backdoor contribution moves for high-income earners

·       Strategic Roth conversions during early retirement or low-income years

·       Coordinating distributions across tax brackets

·       Avoiding Social Security tax and Medicare premium surcharge “creep” via a proactive retirement income plan

✅ Pro tip: Roth IRAs do not require Required Minimum Distributions – which allow accounts to grow longer, AND when funds are removed, they are tax-free. This is great for you AND your heirs.

7. Love ❤️, Divorce 💔, and Taxes: Filing with Finesse

Big life transitions = big tax implications. We guide our clients through every scenario with empathy and expertise. Whether you’re getting married, divorced or are widowed, your tax status will change. We often guide clients through:

·       Withholding adjustments pre- and post-nuptials

·       Using the $500K home sale exclusion wisely in marriage

·       Avoiding the “marriage penalty” in dual high-income households

·       Strategic asset division in divorce

·      👉🏻 Tax planning for LGBTQ+ couples – refer to our recent Pride blog

8. 👵🏽 Legacy Planning: More Than Just a Will

Your legacy deserves more than cookie-cutter estate docs. We help you design a plan that reflects your values and protects your wealth. By working closely with your estate attorney, we can help you:

·       Coordinate tax-smart, strategic lifetime and annual exclusion gifting

·       Help gifting plans to your children and grandchildren

·       Inheritance planning for kids, partners, or causes

·       Avoid familial liquidity crises due to estate taxes, including proper life insurance structuring

·       Plan business succession for continuity and minimal tax impact

·       Reduce taxable income via tax-efficient investment strategies

·       Structure inheritances for tax efficiency

💬 Final Thoughts: You Deserve More Than a Tax Preparer

You deserve a wealth and tax strategist. Our clients work hard to save, and they appreciate our insights on tax-efficient investing and planning. We truly see you, your goals, your business, your family, as well as your vision and values.

At Green Bee Advisory, we offer year-round tax and wealth planning services for ambitious, breadwinning women and their partners. Whether you’re scaling your business or mapping your next decade, we bring clarity, confidence, and strategy to your side.

🌿 Call to Action: Let’s Plan On It

✨ Schedule your Tax & Wealth Strategy Session
Let’s uncover missed deductions, plan smarter income strategies, and align every dollar with your goals.

👉 Book Your Complimentary Strategy Call Today.

🐝 And to close it all off, here are some Buzz-Worthy Tax Moves to Consider This Year:

·       Max out pre-tax retirement accounts

·       Schedule a mid-year tax check-in, not just a springtime scramble

·       Reassess withholdings if your marital or income status changed

·       Revisit your equity compensation planning strategy for RSUs or stock options vesting soon. For more info, refer to our Equity Comp blog

🐝 FAQ: Smart Tax Planning for High-Income Women

What’s the biggest tax mistake high earners make?

They under-leverage tax credits and accelerate deductions without coordinating with their multi-year income plan. That can push you into a higher bracket in later years. A well-planned Roth conversion or shift of giving can help avoid that trap.

How should I time my income and deductions?

You want to smooth your taxable income over time. If you expect earnings or gains in future years, it may make sense to accelerate deductions or charitable contributions into lower-income years. Analyzing your projected income curve is key.

Do I still get benefit from retirement account contributions at high income?

Yes. Even if you’re phased out of traditional deductions, non-deductible or backdoor Roth strategies, or taxable account strategies like tax-loss harvesting, still offer value. Also, some employer plans let you use after-tax contributions that you roll into Roths later.

How should I think about state and local taxes (SALT) limits?

With new rules (like in the OBBBA), the SALT cap has been raised temporarily. But that doesn’t mean unlimited deductions. You should still plan SALT payments, consider prepaying or bunching, and stay agile if rules change again.

When should I consult a tax planner or CPA?

Ideally, **before** high-income events (like big capital gains, bonus year, business sale). Also annually after the law changes (like after OBBBA). The earlier you plan, the more strategies you’ll have available.

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This material is for educational purposes only. Always consult with your legal and tax advisors.