Max out 401K vs Paying More Taxes (but having more cash)

[Nikola Dokic]

Hello BP Community!

I have one deal under my belt and want to purchase another property by the end of the year, but I am running into a personal finance dilemma. I make very good income (over six figures) but because of how much overtime I work (earned around 20k last year in overtime) and from my monthly bonuses (around 60k), I had to pay over $8000 extra in taxes. My filing status is Married Filing Jointly (spouse make about 1/3 as much as me) and I claimed 0 dependents. My CPA mentioned I should look into maxing my 401k contributions in order to lower my taxable income (currently I contribute 5% and my employer matches 4%), but I want to hoard as much cash as possible that I can use to purchase property with.  What would you suggest in my situation, (this year we are paying quarterly taxes ahead of time so there shouldn't be anything owing next tax year).My retirement plan is to live off of the rental income of the paid off properties, so drawing off of a 401k would just be an extra bonus.

Note: We itemized as many deductions as we had from our duplex and anything else CPA suggested.