|Posted: August 25, 2005, 12:36 am - IP Logged|
Yes, it has to do with TaXe$... not that complicated in my case (I have a very average income).
Just that it's been getting stressful at work the last 8-10 months & since the company hasn't been doing well in terms of profit over the last couple of yrs, it's been difficult for many of us who has seen the whole company grow over the last 5+ yrs & now have to do so much crabby things just to show improvement. The demand from the top ppl are quite laughable at times. So many longtime employees have either quit or let go (above average salaries) & I'm sure that my time will come soon if not sometime next yr.
That's why I'm thinking about cashing out later to have this yr. finish out & not have to deal with some issues like my current retirement contributions. Since this payout will put my total income (this once) over the limit, I therefore cannot contribute to this fiscal yr.
Anyways, is it legally ok to do that since the winning is decided/known in '05, but can be cashed out in '06? Would it be possible then to apply it for '06 fiscal yr.? Has anyone been thru this situation (winning one yr. & cashing out the next)?
Thank you much