How to minimize taxes with 6 figure bonus

[myDeaconmyhand]

I want to live in a world where rjkarl is obscenely wealthy. Goddamn, that would be fun. No one could have more fun with $10 million than rjkarl.

wild card, bitches!

RJ's still spending his book advance.

 

[Dented]

congrats on the bonus.

like chrisl said, see if your employer is willing to set up a SEP for you guys

 

[Tranny Deac]

medical procedures are tax deductible. you could always get the surgery you have been thinking about.

 

[#brag]

glad to see some of my employees are seeking tax advice.

 

[bojanglefunk]

Some jealous haters on here.

 

[buckets]

Some jealous haters on here.

I was actually surprised at the lack of haters

 

[Caturday]

I was actually surprised at the lack at haters

truth

 

[bojanglefunk]

I was actually surprised at the lack at haters

True. But there are some.

 

[lbE08]

i just can't fathom a job that deserves a 6 figure bonus.


i'm a little jelly.

 

[isledeac]

Bonus? Grobe makes that by halftime. Step your game up, socal.

 

[PhDeac]

Bonus? Grobe makes that by halftime. Step your game up, socal.

I laughed and then I did the math. $2.3M comes out to just under $100K per half.

 

[Caturday]

Yea, it's really sad when you think about it. Obviously there's so much more that goes into coaching than game time but paying Grobe $200k/game to look at his shoes and the sky is pretty weak.

 

[BaseballBoomhauer]

create jobs. isn't that what you people are for?

 

[Deac2010]

six figure bonus cannot afford a tax expert..

 

[godeacsplate]

Report it on Sch. C as earned income and make up a shitload of expenses...travel, 40k miles, meals & entertainment, advertising, office in home, utilities, elect to expense all the electronics, etc. you bought last year. Get it down to $25k net and pay the taxes. If you've ever gambled in a casino or bet on a ball game, this is a much better bet than either of those. If you haven't heard from IRS in three years, have a giant party. If you do get looked at, delay and claim you're the world's worst record keeper. It'll end up in a settlement that's a lot less than you originally should've paid.

 

[CarlWeathers]

Don't they take the taxes out for you when you get a giant bonus from work?

 

[buckets]

just pay your taxes. is it more important that you get a little extra money from a fat bonus or that starving children that depend on government assistance have dinner tonight?

 

[morrison2951]

You can PM me and gift it to my son's WF college tuition! We need all the help that we can get!!

 

[Go]

Do you trust your wife?

 

[buckets]

i just can't fathom a job that deserves a 6 figure bonus.


i'm a little jelly.

there are probably some peeps from your graduating class making them