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Started By
Message
Cole Freeman signs for 340,000
Posted on 7/4/17 at 8:14 pm
Posted on 7/4/17 at 8:14 pm
Very nice for a senior. Best of luck to him!
9
Posted on 7/4/17 at 8:32 pm to tigerskin
Good for him!
Posted on 7/4/17 at 9:02 pm to BatonrougeCajun
340k isn't much after taxes. Hope he puts that money away in IRA. Wish the best for him.
Posted on 7/4/17 at 9:11 pm to MottLaneKid
Bet you're fun at parties.
Posted on 7/4/17 at 9:13 pm to MottLaneKid
Guarantee you don't make 34K. He makes 10x as much as you playing baseball.
Posted on 7/4/17 at 9:14 pm to MottLaneKid
quote:
Assuming that your bonus was less than $1 million, the employer has a choice of withholding a flat 25%, or combining the bonus with the regular wages, computing the withholding as though that were a single payment, subtracting out what would have been withheld from the regular wages, and withholding the remaining amount from the bonus payment.
$255k is much, give or take an extra 7.65% for FICA and maybe State. Cole is still making out on this
Also, you can't contribute more than... 5k or so annually to an IRA
Posted on 7/4/17 at 9:16 pm to StTiger
Really good for a senior
Posted on 7/4/17 at 9:18 pm to StTiger
Happy for him good luck in life with a good start .
Posted on 7/4/17 at 9:22 pm to tigerskin
Good for him. Enjoy watching Cole play and run the bases.
Posted on 7/4/17 at 9:28 pm to MottLaneKid
Way to sound like a buzzkill and a moron
Posted on 7/4/17 at 9:39 pm to MottLaneKid
quote:
Hope he puts that money away in IRA. Wish the best for him.
Not possible. Just saying
Posted on 7/4/17 at 9:41 pm to MottLaneKid
quote:
Hope he puts that money away in IRA. Wish the best for him.
Not possible. He can put $5,500 in a Trad IRA.
Posted on 7/4/17 at 9:41 pm to MottLaneKid
quote:
Hope he puts that money away in IRA. Wish the best for him.
Not possible. He can only put $5,500 in a Trad IRA.
Posted on 7/4/17 at 9:55 pm to LSUBanker
Depends on how his contract is structured, is he an employee or independent contractor. What type of retirement does the franchise offer if an employee? So he could have a 401k to contribute to or SEP IRA, both of which have much higher contribution limits than the traditional IRA.
Posted on 7/4/17 at 10:00 pm to fab4lsu
quote:
Depends on how his contract is structured, is he an employee or independent contractor. What type of retirement does the franchise offer if an employee? So he could have a 401k to contribute to or SEP IRA, both of which have much higher contribution limits than the traditional IRA.
Very true, but the OP said "IRA" which has lower contributions limits. But, i get the jest of it.
Posted on 7/4/17 at 10:03 pm to StTiger
ATM hurts. It should be illegal.
Posted on 7/4/17 at 10:04 pm to LSUBanker
Without have a fricking financial hour can't you people just say good luck to the kid and leave like that...
This post was edited on 7/4/17 at 10:05 pm
Posted on 7/4/17 at 10:06 pm to tigerskin
Very glad to hear that...won't make him immediately rich, but it is a damn good start in life. Thanks for being a Tiger!
Posted on 7/4/17 at 10:07 pm to tigerskin
Geaux Cole
Posted on 7/4/17 at 10:10 pm to tigerskin
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