Google Search

TenantNet Forum Archives 1996-2002
Posting and Replies are disabled in all Archives
TenantNet Forum | TenantNet Forum Archives Index

Cash settlement by landlord for vacating -- best way to arrange it

Posted by carlson on January 03, 2002 at 12:58:39:

I expect to receive a cash settlement from my landlord in return for giving up possession of the NYC apartment I live in.

Other than receiving the money as a 'lump sum,' and having to lose a significant portion of it to taxes, are there any other ways I can arrange to be paid that will shelter it?

(I'd prefer not to become involved in any 'installment' arrangement since I will probably not stay in NYC, therefore will be in a bad position should problems with that arrangement later arise.)

I'm 52 years old and single. As 'normal income' the settlement would appear to be 30% taxable (based on 2002 rate tables). In the past, I've generally paid at the 15% rate.

Thanks very much.

Follow Ups:

Note: Posting is disabled in all archives
Post a Followup

Name    : 
E-Mail  : 
Subject : 
Comments: Optional Link URL: Link Title: Optional Image URL:


TenantNet Home | TenantNet Forum | New York Tenant Information | Contact Us
DHCR Information | DHCR Decisions | Housing Court Decisions | New York Rent Laws |

Subscribe to our Mailing List!
Your Email      Full Name