Getting large sum from a profit sharing account for a company I work. Where can I put it so I can avoid taxes?

Question

Getting large sum from a profit sharing account for a company I work. Where can I put it so I can avoid taxes?

Answer 1

Pay the d**n tax.  Don't be stupid like Richard Hatch and Wesley Snipes. It's not worth it.

Answer 2

Transfer it to an offshore account in those tax haven countries,  Unfortunately, all transfers incur a tax!!

Answer 3

If it is not eligible to roll over into an IRA you will have to pay a tax. To protect what is left put as much as you can in an IRA account. You can put the balance in a Municiple Bond fund, preferably one which invests in your state. That will protect your investment and pay tax free dividends which can be re-invested.

Answer 4

Most likely that money will be taxed before you get it.