Hi,I work in a privately owned company which awards phantom shares of stock as a bonus. These are not real shares but their value does follow the value of the company. I have decided to become a part time employee to spend more time with my daughter and since the bonus program is only for full time employees the company is going to pay out the value of my "stock". They plan to do this in 2007 as a lump-sum.My question is: is there any way to minimize the tax on this payout. Since it isn't real stock I can't transfer it and I can't treat it as long term capital gains. Any ideas?Thanks,Jeff
Retirement accounts maxed?Fund Traditional IRA?Education account for daughter?
My question is: is there any way to minimize the tax on this payout. It sounds like this is some sort of informal profit sharing arrangement, but not the type of payment that could be rolled into an IRA without tax. It sounds like the tax treatment will be the same as for any bonus, with appropriate payroll taxes withheld.Phil
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