Thanks in advance for your help.
I'm an incoming associate at Proskauer and just received the information for the interest free loan/salary advance, which I applied for. However, there was nothing in the documents that told me whether taxes would be taken out upon disbursement of the loan, or if they take the salary deduction out of your net (so taxes are taken out when you are paid as an associate). I asked the admin person administering the loan yesterday morning, and have not heard back yet. I am guessing this is out of his expertise and may be something he has to consult payroll about, and he may or may not get back to me. We have a really late start date this year (Nov 5) and for budgeting reasons would like to know if I will have to make 10K last from now until then, or 6.5 K last from now until then. If anyone can tell me how they do it at Proskauer I would greatly appreciate it!
Proskaueh Incoming Associate Salary Advance/Loan Forum
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Re: Proskaueh Incoming Associate Salary Advance/Loan
In case any other incoming associates are wondering, I just heard back from the firm and there are no taxes taken out of the loan upon disbursement. The pay back is taken out of net pay (so you are taxed later).
