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.
Answers | 1
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.
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