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Thread: Lump Sum Advice
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Old 09-02-2015, 07:02 PM
Join Date: Jan 2014
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Default Lump Sum Advice

So...long story short; I am due a lump sum payout at the end of this year as part of an employment agreement. Although I have looked forward to this payout for a while, the reality is now setting in that I am going to be hit with an extreme amount of taxes.
The payout is $750k and will be administered through payroll which of course will mean a very heavy tax. Any advice as to effectively reduce the hit on taxes or how to best reinvest the balance to regain the tax hit?
I have my 'guy' looking at this but would appreciate any advice / comments from the THT brain trust as I have seen some pretty solid advice thus far on this site.