Thread: Lump Sum Advice
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Old 09-02-2015, 08:27 PM
  #9  
Flot
Senior MemberCaptains Club Member
 
Join Date: May 2005
Location: South Florida
Posts: 9,143
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I'll be surprised if you have any options to get out of the tax liability. Your effective overall tax rate will be around 36%. If you DO figure a way out of it... let us know.

The good news, if you HAVE any deductions you can accelerate...take them this year but the truth is it'll be a trivial difference compared to the pill you'll have to swallow on the tax bill.

To paraphrase what an accountant told me one year - Enjoy your $500k, it's better than $400k.
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