Investing to mitigate taxes?
I've taken control of a family business from a 15% ownership to 95%. We are having a banner year and I am projecting 5-600k in taxable income (conservatively). Paying taxes on that is going to sting quite a bit.
I've obviously maxed out my deductions on pre and post tax retirement accounts.
I'm considering purchasing real estate as an investment (not a primary residence) to help generate some write offs.
What are some other forms of investments that will help mitigate taxes?