I recently wrote a column for CBS Moneywatch titled “6 Ways to Cut Your Income Taxes After a Windfall“. Here is a preview of the six strategies discussed in that column…
1. Create a pension.
2. Create a captive insurance company.
3. Use a charitable limited liability company.
4. Use a charitable lead annuity trust.
5. Take advantage of tax benefits to farmers.
6. Buy commercial property.
To read about these six strategies to reduce income tax after receiving sudden wealth, go directly to the CBS column here: “6 Ways to Cut Your Income Taxes After a Windfall“
About the Sudden Wealth Financial Advisor
Robert Pagliarini, PhD, CFP®, EA has over 25 years of financial planning and investment management for the suddenly wealthy. Robert is a CFP® Ambassador, one of only 50 in the country, and a real fiduciary. He authored the book The Sudden Wealth Solution: 12 Principles to Transform Sudden Wealth Into Lasting Wealth in hopes to help those deal with sudden wealth and the emotions that come along with it. In addition to his Ph.D. in financial and retirement planning, he earned a Master's in Psychology to better understand and be equipped when helping clients manage a windfall. He has helped clients from across the United States who have received a windfall from an inheritance, lawsuit settlement, business sale, stock options, sports and entertainment contracts to make sense of their sudden wealth. When he is not helping the suddenly wealthy, you can find him writing personal finance books and articles for Forbes. If you're needing help managing wealth, contact Robert directly.