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Cashing out employee stock purchase plan
Posted on 1/9/13 at 11:39 am
Posted on 1/9/13 at 11:39 am
Hey guys I might be leaving my job in the next month to take another one and I've recently thought about cashing out my stock from my employee stock purchase plan.
I have 15k in it as of now and contribute $100 per paycheck to it and they buy stock at the end of every quarter for a 15% discount.
My question is, what are we looking at with taxes on this and is this something they tax when withdrawal or at end of year?
Also what happens to that money I contribute every check if I leave in the middle of the quarter?
Thnks in advance
I have 15k in it as of now and contribute $100 per paycheck to it and they buy stock at the end of every quarter for a 15% discount.
My question is, what are we looking at with taxes on this and is this something they tax when withdrawal or at end of year?
Also what happens to that money I contribute every check if I leave in the middle of the quarter?
Thnks in advance
Posted on 1/9/13 at 11:43 am to dallastiger55
The answers to your questions depend on the type of plan your company has and your current taxable income level.
Your best bet is to get a copy of you plan's "Summary Plan Description" which is the required explanation employers must provide to employees about their benefits plans.
Your best bet is to get a copy of you plan's "Summary Plan Description" which is the required explanation employers must provide to employees about their benefits plans.
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