Bonus Money?
 

What's everyone going to do with their bonus money? Save...spend it?

Pilots getting bonus money?

1) Ex wives will get a lot of it
2) Really bad investment decisions. Probably down payments on rental properties that will get them way in over their head.
3) Lots of other shiny bad decisions showing up in the employee parking lot

All towards the wife's student loans and to recover from first year pay.

Donate to new hires?

I can promise that 100% of the pilots will have significant taxes withheld on it! :)

I know one guy who is buying a Segway for each of his kids.

Good observation, I am already seeing the new SUV's and Big Pickups.
Children in grad school are on my list.

I'm going to buy a Scott Leather flight kit because I'm too paranoid of iPads!!

25%

WD at AWA

Put it all to your 401k.

I'll tell you what I'd do...

2 Chicks at the same time - YouTube

Ha! Yes, iPads are evil! We must show how tough we are by standing up to management and carrying flight kits out of disgust! Right PHL reps?

2 Sig Sauer P226 TACOPS

No idea with rest.

Is that nonsense still going on?

Sounds like one hell of a Dad!!!!

It was in the minutes of the last PHL Domicile Meeting.

Unbelievable.

First thing I'm gonna do is buy my momma a house.

100% 401k contribution.

Adding it to the down payment on my new house.

Excellent.

Bonus Money?
 

10 more days til I get one of these.

http://www.youtube.com/watch?v=m4Bm3cs9TFo

I've got this whole setup ready to go, they just need my final $10k payment.

http://www.oocities.org/motorcity/sp...te_trailer.jpg

Who is the big baller now!

Bubba, don't never buy nothin ya caint eat.

Words of an Old School Piedmont Captain to a brand new Flight Engineer that have served me well.

... and me as well.

But look at how happy all the people are!! They even said I could finance it over the next 20 years.

http://www.youtube.com/watch?v=m4Bm3cs9TFo

College fund for my four-year old boy. Going to straight to Fidelity, as I decided against a 429 plan.

He can use it for school, or let it ride and add to it for a nice retirement.

Can you imagine 30K in a retirement fund at 4 years old??!!

I don't want him to be dependent upon anything or anyone in his future like I am.

That is great advice- Oh to have only known when my kids were 4. That said, the one thing that I did right was use those buddy passes- The kids have been all over the world. They are different people - now in late 20s to mid 30s. This sustained us through the bad times. It was the end of the sentence, "But I still have no regrets ..."
Happy Holidays to everyone who still gets a rush from the smell of jet fuel.

Lucky boy to have a Dad like you!

I started saving for college when mine were 1 and 3. Never regretted it. Thinking about starting a college fund for my, as of now, non-existent grandchildren.

And justjack nailed it. My children got a lot of education courtesy of passes. My daughter recently took a job in a big city far away. I asked her if she would have been so comfortable doing that if she hadn't traveled, spent time on planes, the tube in London, the Metro in Paris etc. She said "No way!"

Merry Christmas.

All my money is going to my roth and 401k.

Longest weekend ever. Hurry up monday. Im waiting :D

Mine was in my account this morning!

And glad to have it.

Ain't that the truth!

$$$ in the bank!!! Got a $$ raped on taxes..That distribution of wealth thing is in full swing!!

And you will get most of those taxes back when you file in a few months if you do it right....

And just for planning purposes, how does one do it right?

Taxes are taken out of bonus checks at a higher rate, but in the end you only owe a percentage based on your income bracket. Think of the difference between regular tax rates and bonus taxes as a short term govt loan. —The govt would benefit from you not dedicating time/money to maximizing your return.

For example, if you're in the 25% income bracket ($35,351 - $85,650) you only owe 25% + any state/local taxes on that bonus money. Maximize your deductions to lower your taxable income and you will get some of that bonus money back.

Since you had to ask, I'm going to go ahead and encourage you to learn how to calculate your own per diem deductions and not pay someone to do that for you—it's a lot easier to calculate CONUS/OCONUS deductions than many think!!!

Oh, I already do that. I itemize, do the per diem stuff, do everything I can to maximize deductions. My previous company never paid ANYTHING taxed as a bonus. I just wasn't sure if there was anything special I had to do.

Is the 30k you mention about average for the bonus? Just curious.