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Mark Taylor
Mark Taylor, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 2072
Experience:  Certified Public Accountant
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I was just off from an executive position August 1st. I have

Customer Question

Hello. I was just laid off from an executive position August 1st. I have grossed YTD 144,466.35 including some accrued vacation. I expect a bonus of $68K and stock options of $42K (both gross) in September. My company has generously offered me a severance payment of $110,000. I have the option of taking this severance in September or January. Which is more advantageous in terms of total taxes (federal, social security, etc.)? Thank you.
Submitted: 11 months ago.
Category: Tax
Expert:  Mark Taylor replied 11 months ago.

Hi, my name is Mark. I will be happy to help you with your questions.

Expert:  Mark Taylor replied 11 months ago.

What do you expect your income to be next year?

Expert:  Mark Taylor replied 11 months ago.

My initial thoughts are that you should postpone the payment until January but let me get some more information to make sure that analysis is correct.

Expert:  Mark Taylor replied 11 months ago.

Please let me know if you have any questions or need clarification. I am happy to help.