Asked by Kelvin  |  Submitted May 23, 2016

Is it better to defer my consulting fee to next year. I have unusually high income this year and my spouse plans to retire in January.

Income is high due to layoff package. I have another consulting position active now. Current year joint AGI is probably in the range 330K exclusive of the consulting fees.

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  Answers  |  1

May 24, 2016

Hi Kelvin,

By deferring until next year, will this lower your tax liability or raise it? Ask your Accountant (preferably a competent CPA) and tax advisor. Also, will you have enough liquidity this year by deferring the income?

Those are the starter questions that I have.

Feel free to contact us directly to discuss your situation in greater detail. No obligation

Its not what you make. Its what you keep that determines your lifestyle.

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