Tax Mistakes High Earners Make (That Cost You More Than You Think)

Tax day is right around the corner, and if you’ve ever looked at your tax bill and thought, “Wait… why do I owe this much?” you’re not alone. Most people assume taxes are something that get figured out in April. But by the time you’re filing your return, the outcome is already decided. In this episode, Shari Rash, founder of GWA Wealth, breaks down the most common tax mistakes high earners make and why these decisions can quietly cost you thousands over time. You’ll learn why treating taxes like a once-a-year event leads to missed opportunities, how celebrating a tax refund might actually be a red flag, and why focusing only on this year’s tax bill can hurt your long-term wealth. Shari also walks through the key accounts and strategies that help reduce taxes over time, the difference between tax preparation and tax planning, and why relying on your accountant alone isn’t enough to create a real tax strategy. This episode isn’t about complicated loopholes or aggressive tactics. It’s about understanding how your everyday financial decisions impact your taxes so you can start making smarter moves throughout the year. You’ll hear why taxes feel like a surprise even when you’re doing well financially, the biggest tax mistakes high earners make, how tax-advantaged accounts actually work, and what to do differently so you’re not in the same position next year. You’ll walk away with a clearer understanding of how your tax bill is created, one simple change you can make this year, and the confidence that taxes don’t have to feel confusing or out of your control. If you want more real-life strategies like this, join the Talkin’ Points newsletter at everyonestalkinmoneypodcast.com. If you’re ready for to build a solid financial foundation with Shari, take the first step and visit GWA Wealth and schedule a free introductory call. Shari Rash is a financial planner and Investment Adviser Representative of GWA Wealth, a Registered Investment Adviser. The information provided in this podcast is for educational and informational purposes only and should not be construed as personalized investment, tax, or legal advice. Listening to this podcast does not create an advisory relationship with Shari Rash or GWA Wealth. All investments involve risk, including the potential loss of principal. Any references to specific investments, strategies, or securities are for illustrative purposes only and are not recommendations. You should consult your own financial advisor, tax professional, or attorney regarding your individual situation before making any financial decisions. Learn more about your ad choices. Visit megaphone.fm/adchoices

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Tax Mistakes High Earners Make (That Cost You More Than You Think) is an episode from Millennial Money.

This episode is 36:53 long.

This episode was published on Apr 3, 2026.

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