I have a bit of a tax situation. My wife lives in Canada and I reside in the States. We were recently married (this year). She pays no US tax but significant Canadian taxes.

We both earn significant incomes, about $500K/year combined (hers about 3 times mine).

I am trying to figure out the tax implications around this and am searching for a strategy that will reduce my taxes owed for this year. Any guidance would be appreciated.

You need to RUN (not walk) to a tax professional who has experience with BOTH the U.S. and Canadian tax systems.

For the U.S. taxes, if you file jointly with your wife, BOTH of your salaries will be subject to U.S. taxes. A credit for the taxes paid to Canada will be available, but there will be significant effects on your tax return.

Your situation is MUCH TOO COMPLEX to properly address on this forum.