GGal's Account Talk

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Back from NYC, saw the big raging Bull at Wallstreet, wasn't sure, but think Birchtree was riding him, waving his hat in the air.......

GGAL
 
Did you enjoy your stay? I didn't see your post about coming up here. Otherwise, I could've given you plenty of pointers towards good restaurants if that's your thing.
 
We had a fun, short trip.....saw a play, went to the Blue Note, ate at Tavern on the Green, took a bus tour......

We will go back in a few months, where should we eat?

Thanks
GGAL
 
GGal,

Look at the bright side, you were too busy to make a mistake.
Hope the S-Fund looks as good as the DWCP did today. Cheers !
:cheesy:
 
Well they don't call it a Bull for nothing.....

Will be out of town all week, and evenings will be the only opportunity to move....not good!

GGAL
 
Re: GGal's Account

Interesting. TSP.gov still has me at 30 g 20 f 25 s 25 i and did not make my yesterday morning change to 25 g 25 s 50 i (even though, when I did the change, it showed me that the request was made to that effect).....so I'll just leave it there for right now since I'm working out of town. I guess I'll just leave the automated tracker as is, what the heck, it's not a big deal.

GGAL
 
GGal you might be able to give me a little help on this subject. Sometime before thanksgiving a judge will rule on an award that will give me a possible $58000.00 dollars, i was wonder do the i.r.s. still give you the 5-year averaging on unexpected awards or bonus. if you can give me any other avenues to go to would be helpful.---pogo
 
Hey Pogo

I believe income averaging is only allowed now for individuals engaged in the business of farming. I'll check on that for you. (I did check, and it's farmers who may be allowed to income average - boy you going way back in the day when income averaging was around - you must be old as hills like me!)

On another note, the award may not be taxable, if for example it is for personal injury.

And if it is taxable, look to the nature of the transaction that resulted in the award to determine if it is taxable as ordinary income or capital gains.

You did not describe what the award is for.

Well, if it is taxable, and you get it in a lump sum, it's a shame if it kicks you into a much higher bracket. I guess that's why you asked about averaging. Maybe you could request to receive it in installments.

GGAL
 
Last edited:
GGal said:
Hey Pogo

I believe income averaging is only allowed now for individuals engaged in the business of farming. I'll check on that for you.

On another note, the award may not be taxable, if for example it is for personal injury.

And if it is taxable, look to the nature of the transaction that resulted in the award to determine if it is taxable as ordinary income or capital gains.

You did not describe what the award is for.

Well, if it is taxable, and you get it in a lump sum, it's a shame if it kicks you into a much higher bracket. I guess that's why you asked about averaging. Maybe you could request to receive it in installments. sorry for not given you more info, it was an award from an arbritrator for over a ten year period for a contract violation, i work for the post office and we been fighting this for ten years. yes it will be a lump sum and i doubt they will give it in installments

GGAL
Click to expand...

sorry for not given you more info, it was an award from an arbritrator for over a ten year period for a contract violation, i work for the post office. yes it will be a lummmmp sum and i doubt they will give it in installments
 
GGal said:
Hey Pogo

I believe income averaging is only allowed now for individuals engaged in the business of farming. I'll check on that for you.

On another note, the award may not be taxable, if for example it is for personal injury.

And if it is taxable, look to the nature of the transaction that resulted in the award to determine if it is taxable as ordinary income or capital gains.

You did not describe what the award is for.

Well, if it is taxable, and you get it in a lump sum, it's a shame if it kicks you into a much higher bracket. I guess that's why you asked about averaging. Maybe you could request to receive it in installments.

GGAL
Click to expand...

sorry for not given you more info, it was an award from an arbritrator for over a ten year period for a contract violation, i work for the post office. yes it will be a lummmmp sum and i doubt they will give it in installments
 
pogo said:
sorry for not given you more info, it was an award from an arbritrator for over a ten year period for a contract violation, i work for the post office. yes it will be a lummmmp sum and i doubt they will give it in installments
Click to expand...

You said that twice...:D sorry, sometimes I just can't help myself.:)

Just wanted to wish you good luck on that award, but don't hold your breath until those chumps send you the check. (I'm with USPS, too :rolleyes:)
 
Wow Pogo, I know I accidently rattled your cage in the past and I mean 100% innocent of any reference to you and therefore determined my best course of action was to avoid you altogether. But it would be very rare to see a message like this and I honestly hope with all my heart that you (and those close to you) have the good health to enjoy it. Let's hope the judge gives you the best ruling possible.
 
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