I took VSP and the 9k instead of 18months cobra. Is that 9k heavily taxed? I only ended up with a deposit of 5300. For some reason I thought that 9k would not be taxed, and would be using that money to pay for insurance in 2017.
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You're welcome OP. :)
-jdr
thanks for the tip on the search feature. That's been helpful searching for info on this site.
If u get benefits from employer usually tax free. If u buy benefits its post tax ur double screwed where was ur tax advisor? Intel explained this? Your bad
I tend to search this site for answers first rather than post a question that's already been answered.
For those that weren't aware you can do that since there's no search feature here, a Google example would be: thelayoff.com intel $9K for this particular question. That gets me: https://www.thelayoff.com/t/HWRDY1P or:
the $9k is paid out similar to the variable separation pay
That tells me it's taxed at the high rate. I read about it in the recent past, hence me guessing at the words to search on, but I couldn't find anything else. Maybe someone typed a variation of '$9K' so it's not coming up in my search. Not my question so I'm not giving it a bunch of time.
Taxed as ordinary income. This was explained during the final HR meeting during our purge.