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I'm not certain, but I see another alternative for those that find themselves screwed by the cliff and are self employed is to form an LLC and pay themselves a
by malandrew 13y ago
I'm not certain, but I see another alternative for those that find themselves screwed by the cliff and are self employed is to form an LLC and pay themselves a salary that keeps them at the ideal salary and keep balance in the company for future years. This has the added benefit of helping minimize tax obligations over the long term.
- rdl 13y agoThere are potentially dragons if you artificially reduce salary and retain earnings, but if you have a business justified way, it is possible. The other weirdness is that a lot of this is income based, not assets, so a rich "retired" person could get subsidies.