Hi guys, I’m being laid off next month and luckily have severance. I can choose between a lump sum or biweekly payments. My hunch says to choose lump sum so I can detach from the company sooner, and I can put the money in an interest bearing account while I use it. One thing I’m not clear on is will the way it’s taxed change based on how it’s distributed? From what I can tell it gets paid as wages so I’d assume I could expect my regular tax rate on it. Is that correct or do you think lump sum changes it?
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Author Of this post: /u/kookookachoobro
Title Of post: Severance as lump sum or biweekly payments
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