As a 60 week vsp accepter, and considering the double bonus of 2018 and 19, does anyone have some good ideas for how to lower 2019 taxes?
11 replies (most recent on top)
yep, starting a business sounds a great idea.
Uncle Sam always ask major share. From VRS if you calculate the max of 60 weeks plus bonus etc to 200k. You will only get 95k to hand.
If you are in high pay locations move to Florida, Delaware etc. where there are no state taxes.
If you ha r job in hand. Move major portion to 401k etc
@osj If you leave next year you will get the 2018 bonus in February and a prorated 2019 bonus when you leave.
Hire Kushner’s tax preparer.
Send the money to an offshore account in the Bahamas.
That was one of the reasons, of many, I did not take the offer.... taxes on that much income in a year in a high tax state... not giving close to 45% to the man... did not need the money.
Wish I had some. Looking at the SocSer. site it does appear that the 2019 severance will be counted as 'income" and will go to your 35 year average earnings.
You can tax loss harvest funds in your brokerage accounts this year and carry over any losses in excess of $3k into next year.
Please go to your bank and seek FREE Financial Adviser assistance
Double bonus?
I’m considering starting a business and loading as many tart up costs into 2019.