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Message
re: Bonus - Tax Implications
Posted on 7/1/14 at 9:55 pm to Mr. Curious
Posted on 7/1/14 at 9:55 pm to Mr. Curious
100% bonus, so doubling your yearly salary?
Max the 401k for the year, Max the wife's 401k, Max the Roth.
Max the 401k for the year, Max the wife's 401k, Max the Roth.
1
Posted on 7/2/14 at 10:59 am to eng08
Maxing a Roth IRA would have no implication on his tax situation.
In addition, if he is doubling his salary, and is already maxing Soc. Sec. his income would be too high for funding a Roth.
In addition, if he is doubling his salary, and is already maxing Soc. Sec. his income would be too high for funding a Roth.
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