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.
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