Intentionally Paying More Taxes?

[Jimmy H.]

I had a funny thought pop into my head as I began to prepare for the upcoming tax season: should I intentionally pay more taxes (by not taking all deductions/credits claimable) so as to be able to leverage that income into more investments?

I am at the beginning of both my real estate and professional career; now that I have a decent bit of rental income to show, I am thinking it would be most beneficial to me in the long run to overpay in taxes, showing as much income as possible for two years or so (two is typically what most Banks require). Thus, I would be able to leverage that income into greater investment capital for myself.

Sure, taking on leverage entails risk and I recognize the potential perils of it. But, I have a background in Finance and if I'm comfortable with the risk being taken with these investments, why not work with these low rates and depressed prices early in my career and get the proverbial "snowball" rolling down hill ASAP?

I recognize there are upfront costs in overpaying the IRS, but the long term benefit, with regards to the time value of money and the like, seems greater.

Thoughts?