A household income of $400k split for the sake of argument is $200k per person. You'd have a W-2 with something around 30%-ish withheld directly from your paych

A household income of $400k split for the sake of argument is $200k per person. You'd have a W-2 with something around 30%-ish withheld directly from your paycheck. Then, at tax time, you are smack in the middle of the AMT (Alternative Minimum Tax), basically only allowing you to deduct mortgage interest. It is way more realistic to discuss this stuff in terms of self-employed/small-business owners vs. regular workers. A "regular" US household income of $400k has virtually no chance of leading to that household becoming masters of the tax universe and stashing wealth offshore in numbered accounts like a James Bond villain.