My husband occasionally gets bonuses from work. This year he had a good year and got several bonuses. Do they count this when doing the means test and schedule J? I don't see how they can because if he doesn't have a good year he won't receive one. Any thoughts? Thanks.
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Bonuses are income and if they fall in the time period that income needs to be reported for a Chapter 7, then they need to be listed._________________________________________
Filed 5 Year Chapter 13: April 2002
Early Buy-Out: April 2006
Discharge: August 2006
"A credit card is a snake in your pocket" -
Yep. My wife's counted against us. It averaged out to make the sched say we have $650 more a month in income than we do.Filed: Dec 31, 2008
341: Feb 5, 2009
Discharge: Apr 7, 2009 (61 days even)Comment
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The bonuses earned in the six months prior to filing count as income on the means test, but if there isn't some minimum amount guaranteed in the future they can be excluded on Schedule J. You can add a footnote explaining that there is the possibility of additional income from bonuses in the future but that this is not guaranteed.Comment
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it is definitley counted as income. It may not seem fair, but ... that's how it is sometimes. They probably figure with all the debt that people get out from under when filing, they don't have to be "fair".Originally posted by Kingxray View PostFiled Pro Se: 10/16/2009
341 Scheduled: 11/23/2009
Last Day for Objections: 1/22/2010
Discharged: 1/28/2010Comment
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