I have recently read a book, Tax-Free Wealth, How to Build Massive Wealth by Permanently Lowering your Taxes by Tom Wheelwright.

The book contains over 20 strategies for reducing taxes - here are a few excerpts from the book I found particularly fascinating:

Of the 5800 pages of the tax code, 30 are dedicated to raising taxes and the other 5700 plus on reducing taxes. 

Real estate investors enjoy great financial benefits. You can buy a property mostly with the bank's money and get a tenant to pay enough rent to make your payments to the bank and have a little left over. When you buy real estate right, history shows it increases over time as illustrated below.

The tax benefits (including depreciation) can be greater than both the cash flow and increase in value. Depreciation is like magic, it creates money out of thin air!

Here are a few more strategies I think you might find helpful: 

• Shift income from your business to your children, grandchildren, or your parents and then have them take the money and invest in a business you control so you can direct how the money is spent
• Turn business income into passive income by giving part of the business to a member of the family that does not work in the business (you still maintain control); their share is passive income that can be used to offset passive real estate losses
• Trade stocks and options in a self-directed Roth IRA to permanently avoid taxes