capjak
Full time employment: Posting here.
DW and I are retiring this year and both have deferred comp plans.
She will have a lump sum of $178K distributed this year and I will have $65K next year with 25K distributed annually for the following 5 years.
These are pre tax and therefore be taxed as income,
55 YO and 54 YO.
Can we save the tax hit in anyway? We are at 33% tax rate this year.
Can not change distribution schedule as it is a 1 year wait period and have to be employed.
She will have a lump sum of $178K distributed this year and I will have $65K next year with 25K distributed annually for the following 5 years.
These are pre tax and therefore be taxed as income,
55 YO and 54 YO.
Can we save the tax hit in anyway? We are at 33% tax rate this year.
Can not change distribution schedule as it is a 1 year wait period and have to be employed.