Determine whether severance pay is taxable

Reference no: EM132679823

Question: Completing this activity will help you prepare for the upcoming assignment in Week 7. Think of it as practice for the assignment. As such, focus on content, not formatting. Your paper should be no more than 1 to 2 pages in length.

For this activity:

1. Create a severance package for a separated employee in a fictitious company.

At a minimum, include:

• Position differences.

• Years of service.

• Actual compensation amounts.

• Any additional benefits that you want to add.

2. Determine whether severance pay is taxable.

3. Create a chart that depicts the timeline of the disbursement of the compensation.

Use Microsoft Word or an equivalent application, such as OpenOffice.

Reference no: EM132679823

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