What is the name of your state?
Pennsylvania
Is there a way to avoid paying the 16.4% federal and 6% state tax on receiving death benefits from my dad's pension. He recently passed away and the money is being split up between my brother, sister, and I. we are each receiving around 100,000 each and want to use it to pay off college loans and invest the rest. possibly in the money market fund?
Thanks
b
Pennsylvania
Is there a way to avoid paying the 16.4% federal and 6% state tax on receiving death benefits from my dad's pension. He recently passed away and the money is being split up between my brother, sister, and I. we are each receiving around 100,000 each and want to use it to pay off college loans and invest the rest. possibly in the money market fund?
Thanks
b