I will be receiving a severance and retention package of approx. $30,000 in my last paycheck. How can I avoid the taxes
on this lump sum payout ?
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: my company is closing. My last dat is 10/1/2016. A $30,OOO lump sum severance will be added to my last check increasing my yearly income
from $73,000 to $103,000. Approx 40% in taxes will be taken out of my last paycheck. Many people with the company are claiming exempt
for their last paycheck to avoid the taxes. Is this legit?
JA: Is there anything else important you think the Accountant should know?
JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form
, I'll tell the Accountant about your situation and then connect you two.