Military Significant Others and Spouse Support - MilitarySOS.com
Results 1 to 4 of 4

Thread: Hmmm...

  1. Crafting away...
    StampinGal's Avatar
    StampinGal is offline
    Crafting away...
    Join Date
    Jun 2008
    Location
    Fort Lewis, Washington
    Posts
    3,730
    #1

    Help Hmmm...

    Advertisements
    So I log onto my bank account this morning to check to make sure most of my bills have cleared for the start of the month...well my checking account was sitting at over 11,000 I couldn't figure it out at first so I actually loaded the page to see what the transaction was...it's a $10,000 deposit from the Army...

    Well we are getting a bonus installment until 2012, of $7500 each year (would be 10,000 but of course taxes) of when we signed up. Well last year the paperwork took forever so we didn't get the first installment May 1st. March 1st is actually when we should have recieved it last year so I'm wondering if this is it it, but my only concern is that it's the full $10,000 and not $7500..

    Either way I'll be calling finance when they open but I was wondering if you girls had any ideas. My DH is deployed to Iraq right now so I'm curious if that is why we got the full and not taxed 10,000. But from my understanding since he got the bonus before he deployed that it'd still be taxed while over there....hmmm...too many thoughts

    any one else have any!?
  2. Banned
    Donna's Avatar
    Donna is offline
    Banned
    Join Date
    Jan 2004
    Location
    New Orleans
    Posts
    16,880
    Blog Entries
    1
    #2
    The only way it wont be taxed is if he re-upped while in a tax free zone. At least that is the way I have always understood it.
  3. Crafting away...
    StampinGal's Avatar
    StampinGal is offline
    Crafting away...
    Join Date
    Jun 2008
    Location
    Fort Lewis, Washington
    Posts
    3,730
    #3
    Quote Originally Posted by Donna View Post
    The only way it wont be taxed is if he re-upped while in a tax free zone. At least that is the way I have always understood it.
    That's my understanding too and we got it before he deployed. The only way to get the right answer is to get ahold of finance but here in the great state of Alaska it's not even time for them to be open..

    Has anyone ever heard of them breaking up the bonus unevenly. We got a 40,000 bonus. Last year we got 7500, this year apparently 10,000 (we'll find out for sure soon), and then the next two years who knows for sure
  4. Senior Member
    Southern-queen's Avatar
    Southern-queen is offline
    Senior Member
    Join Date
    Dec 2008
    Posts
    35,924
    #4
    Quote Originally Posted by mrs.wachtman View Post
    That's my understanding too and we got it before he deployed. The only way to get the right answer is to get ahold of finance but here in the great state of Alaska it's not even time for them to be open..

    Has anyone ever heard of them breaking up the bonus unevenly. We got a 40,000 bonus. Last year we got 7500, this year apparently 10,000 (we'll find out for sure soon), and then the next two years who knows for sure
    I know for us (keep in mind AF) that when DH reenlisted he did it for 6 years. So he got half of the bonus when he reenlisted. Obviously with taxes taken out. Than the other half we got split equally over the next 4 years (because even though he reenlisted for 6 years the money only comes 5 years) with taxes taken out each time.

    If you have a savings account, I would take the 10k and stick it in the savings account so that it isn't there for spending. I mean it is still there but typically in savings most people don't consider it spendable.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •