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I was just off from an executive position August 1st. I have

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Hello. I was just...
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: 1 year ago.Category: Tax
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8/5/2016
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 1 year ago
Mark Taylor
Mark Taylor, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 2,393
Experience: Certified Public Accountant
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Hi, my name is Mark. I will be happy to help you with your questions.

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Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 1 year ago

What do you expect your income to be next year?

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Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 1 year 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.

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Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 1 year ago

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

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Mark Taylor
Mark Taylor
Mark Taylor, Certified Public Accountant (CPA)
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