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Taxable Income FOR AGI Deductions FROM AGI Deductions Explanation for anything excluded a. I was unemployed at the beginning of the year and got $3,000
Taxable Income | FOR AGI Deductions | FROM AGI Deductions | Explanation for anything excluded | ||
a. | I was unemployed at the beginning of the year and got $3,000 in unemployment compensation. I later got a job as a manager for Roca Cola. I earned $61,500 in base salary this year. My boss gave me a $2,500 Christmas bonus check on December 22. I decided to hold on to that check and not cash it until next year, so I wont have to pay taxes on it this year. Pretty smart, huh? My jobs pretty cool. I get a lot of fringe benefits like a membership to the gym that costs $1,800 a year and all the Roca Cola I can drink, although I cant really drink a whole lotI figure $40 worth this year. | $ 36,500 | |||
b. | As part of my manager duties, I get to decide on certain things like contracts for the company. My good buddy, Eddie, runs a bottling company. I made sure that he won the bottling contract for Roca Cola for this year (even though his contract wasnt quite the best). Eddie bought me a Corvette this year for being such a good friend. The Corvette cost $65,000, and Im sure he bought it for me out of the goodness of his heart. What a great guy! | ||||
c. | Heres a bit of good luck for the year. Upon leaving my office one day, I found $1,000 lying in the street! Well, one persons bad luck is my good luck, right? | ||||
d. | I like to gamble a lot. I won a $25,000 poker tournament in Las Vegas this year. I also won about $7,500 over the year playing the guys at our Friday night poker game. |
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