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Bonus at the end of year
Posted on 11/30/12 at 5:14 pm
Posted on 11/30/12 at 5:14 pm
Anyone roll their bonus into a 401k so as to avoid paying taxes on it now?
Looking at a hefty one and I'm thinking about the best ways to invest and plan with the money. I'm pretty young and my debt is all at good interest rates...
What would you do with a five-figure bonus?
Looking at a hefty one and I'm thinking about the best ways to invest and plan with the money. I'm pretty young and my debt is all at good interest rates...
What would you do with a five-figure bonus?
4
Posted on 11/30/12 at 5:19 pm to Rev1897
401k contributions have caps. Does your employer offer deferred compensation plan?
Posted on 11/30/12 at 9:47 pm to Rev1897
I plan on funding my roth and 529 plans with my 10k in Jan.
Posted on 12/1/12 at 9:24 am to Rev1897
If you had asked me 5 years ago, I would have said that any fiddling with deferred accounts would be impossible. Not saying TPTB are going to take the accounts, but some rules changes will come.
As the gov needs more and more money, then anything is possible and one cannot put all of one's eggs in the same basket...
Time
As the gov needs more and more money, then anything is possible and one cannot put all of one's eggs in the same basket...
quote:
One of the earliest fears about tax-favored savings accounts like IRAs and 401(k) plans was that when this pool of savings grew large enough Congress would not be able to resist tapping it to help solve the nation’s debt problems. We’re about to find out if those fears—persistent for decades—have been justified.
Time
Posted on 12/1/12 at 10:28 am to Rev1897
Depending on your/my current income and tax deductions available, my answer could be take it now, pay the income tax, and put it to work earning tax-free income or unearned income with added depreciation opportunities. I am never a fan of delaying my payment of income tax to an unknown future of income tax rates.
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