Category Archives: Income

Income

Wife’s quarterly bonus $16,745.00

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As a follow-up to my post yesterday about reaching our $300K net worth milestone, I should have explained that it was due to my wife earning a nice quarterly bonus.  Her bonus was larger than she expected, $16,745.00 gross ($9,088.68 net).

She also received her first paycheck from her promotion (her salary went from $97K/year to $130K/year).   This extra ~$1,650/month take home is a major blessing and buys us time as I look for a job.  We plan to use it to increase our savings.

A great start to 2015!

 

Income

Wife Is Going To Have a BIG February

February is going to be a huge month for my wife’s career.  She had an amazing quarter (as usual) and should receive a quarterly bonus of ~$15K gross.   She will also be receiving a trip for two to Cancun for winning the President’s Award.

If that wasn’t enough, she also is being promoted to management and will now have a team of sales reps that report to her.  Her salary will increase from $97,000 to $130,000 and her quarterly bonus for hitting goal will increase from $9,000 to $12,500 (she earns more if she exceeds the goal).  Furthermore, they are giving her 15,000 more stock options (they already gave her 20,000).

I am so proud of my wife and can’t believe how much success she has had in her career and at such a young age (30 years old).  It is truly a blessing and well deserved because she works so hard.

Career, Income

Quarterly Bonus Update

I am so proud of my wife for passing her quarterly goal yesterday.  Her goal seemed unreachable at the beginning of the quarter, but she made it happen.  Besides the sense of achievement, this is great news for three reasons:

1) Her bonus plan pays $9,000 for reaching 100% of goal.  She passed 100% and is already up to ~$10,000 in bonus.  Plus, she still has the rest of December to add to the total.

2) After reaching her goal, she became eligible for other performance incentives offered by her company.  By way of these extra incentives, she has earned another $1,500 in rewards.

3) Due to her stellar performance all year, she made President’s Club!  The reward is $2,500 and an all-expense paid trip to an exotic locale.

In total, she has made ~$14,000 in bonus this quarter!  It will be exciting to see where the total ends up at the end of the month.  The bonus will be paid in February and will be a huge blessing to our family.

Income

Wife’s quarterly bonus $12,490

My wife has been doing absolutely amazing at her job.  She just closed another successful quarter, earning a bonus of $12,490.00 gross ($7,664.17 net).  This brings her 2014 bonus total to $110,280.00!

I am so proud of her well-deserved success.  In addition to her bonuses, she also receives a $97,000/year salary, $800/month auto reimbursement (and gas card), and $100/month internet reimbursement.  I knew she was extremely talented, but this is beyond what I ever could have hoped for.

I am so bless to have a beautiful, smart, and successful wife!

Income

Bonus Time Baby

My wife received her Q2 bonus (first bonus) at her new company! He earned a $1,006.83 bonus (gross). We plan to deposit this money into savings until our son is born and then it will be seed money for his 529 Plan. Go wifey!

Income

Salary Back To Even

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Great news! My company announced today that they are returning us to our full salaries.

In February 2009, everyone in the company received a salary reduction to help us get through the tough economic times – my salary redution was 10%. My company has been slowly increasing our salaries in an effort to get us back to even. This last 2.5% increase represents $1,750/year and returns me to my annual salary of 70,460.

I feel very blessed to have kept my job while others in my company were let go. Hopefully the economy keeps getting stronger.

Career, Income

Offer Letter

My wife just received her offer letter and it’s a good one.

They offered her a $60,000 base, $4,500 more than her last job. Also included in the offer is a bonus structure for up to 25% of her base pay. She also gets a company car and a complete home office.

That is WAY more than I made when I was 26 years old. Come to think of it, with her bonus and company car, it’s more than I make now. Good thing I’m man enough to admit it.

Career, Income

Wife Laid Off

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My wife’s company has been struggling and finally decided on Friday to layoff the entire sales force off.

It’s unfortunate, but not a total surprise. She had already survived 2 rounds of layoffs with this company and there were rumors and signs things were coming to a head.

Where does that leave us? Not in too bad of shape, actually.

• She will receive 2 weeks severance
• Her vacation will be cashed out
• She’ll be bonused on any sales until 4/2
• She gets to keep her company car for 2 more weeks

With $475/week of unemployment and reducing some of our expenses, we shouldn’t even have to dip into savings. Speaking of savings, with our tax return, our savings jumped from $4,327.37 to $9,320.43. We’ll likely need to use some of this to buy a used car, but the rest can act as a cushion. Plus, we should be able to continue to add a little bit into savings each month.

My wife is so on the ball, she’s already lined up a phone interview for tomorrow.

Income

2010 Taxes

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We paid a total of $2,025 in federal and state taxes last year. This year, we wanted to get help with our taxes because we had to account for our condo short sale. Thanks to a referral from a trusted friend, we met with our new tax accountant today and, boy, was it was worth it.

While we had less mortgage interest to deduct this year, he helped us find other deductions that we didn’t realize we were eligible for. We paid him $275 and he helped us receive a total refund (federal & state) of $4,111!

We should get the $4,111 refund via direct deposit in ~2 weeks. We plan to deposit the money into our savings account to build our emergency fund back up.