Additional Assignment

[broncho14]

I am an administrator at a school and for certain reasons we had a coach that will no longer be with us. I searched high and I searched low and I found the best candidate for the job and that is me!!! (Actually I am the only one who is available and has the experience needed). My question is this, will I need to turn over the income from this assignment to the trustee? It will be about $3200 pre-tax. I love coaching and I always said that I would do it for nothing, now I may have my chance!!!!!!!

[justbroke]

I am an administrator at a school and for certain reasons we had a coach that will no longer be with us. I searched high and I searched low and I found the best candidate for the job and that is me!!! (Actually I am the only one who is available and has the experience needed). My question is this, will I need to turn over the income from this assignment to the trustee? It will be about $3200 pre-tax. I love coaching and I always said that I would do it for nothing, now I may have my chance!!!!!!!

is that monthly, or just a lump-sump stipend? Since you are in a Chapter 13, this may increase your disposable monthly income (DMI).

If you filed with a lawyer, you need to discuss with him and see if your Plan needs amending. If this is not regular income -- it's a one time deal -- then your lawyer can help you.

Now, thinking about this myself... I would say that since the income will be reported, and that the Trustee will see your Income Tax return... it's better to deal with it now, than later.

But, that's just me.

[broncho14]

It would be monthly from this point until July. I do not know if I will continue with it after this season. It is possible that I would keep it but it will be hard becasue of my other duties at work. However, I will check with my attorney in the morning.

[chloe0724]

Hopefully your attorney can reduce the increase in new income with added expenses. If it's been a while since you have filed, I'm sure the attorney can be creative.

That's one of the most frustrating things about the long plan for the 13. You feel hesitant to take job opprotunities becuase you're afraid the increase in income will take more away. I know it's only a temporary thing, but I get so frustrated and jealous of all the people that could file a 7.

[FranksMom]

I would be most concerned with it affecting your disposable monthly income. However, your expenses may also vary at the same time.... ;)

[broncho14]

Could I refuse pay for it and instead have them donate the stipend back to the school? I could not reach my attorney today, he was out of town on a family matter but he will be back on Wednesday. I know this, even if I do it for free I am better off. It keeps me out of the casinos (never went last time I coached which was 6 years ago) and it keeps me focused on a purpose. Most of all, I enkoy working with the kids and watching them grow as athletes and more importantly as people.