Tax Strategies for a Windfall Year:
"First off, this strategy only applies to a rare income event – not something that would be part of your normal paycheck. Let’s say for 2013, you earned $200,000. You also expect to earn $200,000 again in 2015. But in 2014, you experience your big one-time event and your income zooms up to $2 million. Well, as exciting as all that income is, it also means you’re going to pay some serious tax on it.
Fortunately, that’s when this simple, but effective strategy may have a huge impact on the amount of state tax you will ultimately pay."
'via Blog this'
