Bonus figured in income

[isabella]

I received a bonus this year (it was 12% of my salary). Due to the timing of receiving it it was figured as part of my income for my 13 plan. I just returned from a meeting where it was announced we will be receiving bonus's of approx 15% in the first quarter of 2010. Since the bonus was figured as part of my income can I jsut keep it or will I have to hand it over. My attorney said "let's just wait and see".

[justbroke]

You will have to wait and see. If your Bonus is regular, then your Attorney could factor it into your Current Monthly Income so that it's accounted for in your Means Test That way, you don't have to turn it over the the Trustee. Downside is, you'll have a higher payment (maybe) throughout the year and will need to actually "save" the bonus when you receive it, since you'll probably need it to make ends meet later in the year.

[Riley]

They counted my bonus as income even though I dont know if I am going to get it again next year. In addition to counting it as income which made my monthly payment higher- they are going to take 1/2 of any future bonuses! Sucks...

[jherron]

I receive quarterly bonues and even though they aren't guaranteed, they were figured into my monthly income. They can sometimes be the amount of one paycheck and when I asked my attorney if I needed to turn them over, he said no.