Ask a Business Lawyer. Get Business Law Questions Answered ASAP.
Notice: If you need to contact me again, please put my user id at the beginning of your question ("To Socrateaser"), and the system will send me an alert. Please Click the following link for IMPORTANT LEGAL INFORMATION. Thanks and best wishes!
I am a W-2 Employee for a software company "privately held" My question is: There is a chance I will receive millions of dollars on the sale of the company. My shares would be allocated prior to the sale. I am just wondering if there is anything I can do from a tax perspective?
I believe I will be given shares prior to sale and those immediately converted to cash. What would be better and why?
Thanks so much for the answer, and I did rate you as excellent. I left out one important factor. I will not receive the stock until shortly before the sale, which I assume, screws me on the tax situation. This would be short term gain instead of long term gain since it is under 3 years?
What would that look like and any suggestions??
Can you tell me the exact taxes for fed/state then? Please thanks.
Last question for now., and I will be tipping.
How soon do I have to create a new "residence" address in a new state to be legal?
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).