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employer buy out for couple

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richdee

Junior Member
What is the name of your state?What is the name of your state?California
My husband (70) and I (68) are getting a "buy out" from our former employer-(same employer for both) His amount will be over 100,000$ and my over $50,000. My question is how much will they be taking out of us for those checks and also at the end of 2005 how much will our taxes be when we file -and what can we do to save on these taxes. We do not own a home --but are thinking of buying--would that help? My husband is retired and I am still working--in the medical field.
Can anyone give us some advice?
Thanks
 


Snipes5

Senior Member
My advice would be to take your information to a tax professional in your area. We don't have enough information to give you accurate estimates and advice about your taxes.

A tax pro who looks at your paperwork should be able to advise you based on your projected income including your buyouts.

Snipes
 

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