I will inherit a 175k annuity. I can either do lump sum or payout over 5 years. I currently make 85k and both options will put me in the next tax bracket (from 22% to 24% for Federal, and I will also have California income tax owed)
|| || |22%|$47,151 to $100,525.|$5,426 plus 22% of the amount over $47,150.| |24%|$100,526 to $191,950.|$17,168.50 plus 24% of the amount over $100,525.|
I think I have done some basic math that tells me I should take the lump sum, but I'm new to this! Is there an online calculator or something that can help me figure out what makes the most sense given my salary and tax brackets?
I plan to meet with a Financial Advisor also.
Submitted September 17, 2024 at 11:51PM by Necessary_Tea203 https://ift.tt/MvXPe7W
