So what should i do with a 40k signing bonus???

[bunkerking09 10+ year member]

If i was to join the air force i would get a 40,000 NON TAXED bonus, in cash. What would you do with it? New car/ truck or retirement fund? Or invest in stocks...throw some ideas out there.

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[Qbenjamin 10+ year member]

Boy oh boy, you have been lied to soo bad.

1) All bonuses are taxed.

2) You have to complete Basic/Tech School to receive it.

3) Your bonus is split up over your enlistment term.

4) If you don't complete your enlistment, you have to pay it all back.

Don't believe everything that your recruiter tells you, as some of them don't explain everything fully.

$40,000

- 22% - Taxes

_______

$31,200

/ 6 - Enlistment Years

______

$5,200 - Annual Bonus

 

[brtnboarder3241 5,000+ posts]

Boy oh boy, you have been lied to soo bad.
1) All bonuses are taxed.

2) You have to complete Basic/Tech School to receive it.

3) Your bonus is split up over your enlistment term.

4) If you don't complete your enlistment, you have to pay it all back.

Don't believe everything that your recruiter tells you, as some of them don't explain everything fully.

word..learn something new each day.

 

[btdickey99 5,000+ posts]

Boy oh boy, you have been lied to soo bad.
1) All bonuses are taxed.

2) You have to complete Basic/Tech School to receive it.

3) Your bonus is split up over your enlistment term.

4) If you don't complete your enlistment, you have to pay it all back.

Don't believe everything that your recruiter tells you, as some of them don't explain everything fully.

^^^^what he said is true my friend.....No such thing as untaxed money

thats legal

 

[Flipx99 5,000+ posts]

I dunno about everything....but I can guaren****tee you it is taxed

You PCS, it's taxed.

 

[dman4486 5,000+ posts]

ill take it off your hands....and not charge you any taxesresent:

 

[igtree 10+ year member]

send me 39999 of it //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif

 

[bunkerking09 10+ year member]

Boy oh boy, you have been lied to soo bad.
1) All bonuses are taxed.

2) You have to complete Basic/Tech School to receive it.

3) Your bonus is split up over your enlistment term.

4) If you don't complete your enlistment, you have to pay it all back.

Don't believe everything that your recruiter tells you, as some of them don't explain everything fully.

i knew that it was over time and i would have to serve my full enlistment, and complete job training.

wow but he specifically said that there was no tax...bastard

 

[Haden 10+ year member]

40000 double cheeseburgers?

 

[Flipx99 5,000+ posts]

^^^^what he said is true my friend.....No such thing as untaxed money

thats legal

FALSE

The following are tax free:

1. Qualified distributions from Roth IRA

2. Municipal bonds if you reside with in the locality in which they are issued.

 

[Loud3 10+ year member]

i knew that it was over time and i would have to serve my full enlistment, and complete job training.
wow but he specifically said that there was no tax...bastard

Ask to see it in writing.

Is it a re-up? I think 40K sounds a bit high for a first timer...

 

[igtree 10+ year member]

40000 double cheeseburgers?

lold

 

[bunkerking09 10+ year member]

i would go in as an e-3, got a 97 on my asvab

 

[MikeofTulsa Moderator]

i'd say invest it toward your retirment

 

[Chevillac 5,000+ posts]

air force is giving out 40k? Back when i joined the army, the air force wasnt giving out shit. Which is kinda why I ended up in the army.

you can get some untaxed if you are reupping while serving in iraq or some shit. thats happened before.