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Alexander vs. Fedex Willis vs. Fedex
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<blockquote data-quote="dmac1" data-source="post: 3341305" data-attributes="member: 60252"><p>You can contribute to an IRA from your qualified income, and reduce your AGI. The idea is to get this years income lower. If you are collecting disability pay- is that eligible to be deposited to a retirement plan?</p><p></p><p>Also, most Social Security isn't taxable and won't be if your award isn't too big.. So you have at least the standard deduction and the personal exemption of almost $11000 to deduct from the award, and just owe taxes on the amount over that. I only had three full years plus a little covered under the settlement. I guess if you had 10 years or more, it might make your tax situation a lot worse than mine is. Did you have any income from work in 2017? Taxes will be based on conditions last year when you got the settlement.</p></blockquote><p></p>
[QUOTE="dmac1, post: 3341305, member: 60252"] You can contribute to an IRA from your qualified income, and reduce your AGI. The idea is to get this years income lower. If you are collecting disability pay- is that eligible to be deposited to a retirement plan? Also, most Social Security isn't taxable and won't be if your award isn't too big.. So you have at least the standard deduction and the personal exemption of almost $11000 to deduct from the award, and just owe taxes on the amount over that. I only had three full years plus a little covered under the settlement. I guess if you had 10 years or more, it might make your tax situation a lot worse than mine is. Did you have any income from work in 2017? Taxes will be based on conditions last year when you got the settlement. [/QUOTE]
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