We derive a general formalism for evaluating the high-frequency limit of the thermoelectric power of strongly correlated materials, which can be straightforwardly implemented in available first principles LDA+DMFT programs. We explore this formalism using model Hamiltonians and we investigate the validity of approximating the static thermoelectric power S0, by its high-temperature limit, S * . We point out that the behaviors of S * and S0 are qualitatively different for a correlated Fermi liquid near the Mott transition, when the temperature is in the coherent regime. When the temperature is well above the coherent regime, e.g., when the transport is dominated by incoherent excitations, S * provides a good estimation of S0.