NYC Clerkship Bonus Post-Tax

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Anonymous User
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NYC Clerkship Bonus Post-Tax

Postby Anonymous User » Thu Sep 26, 2013 4:33 pm

Any idea what a $50K clerkship bonus in NYC translates into after taxes (single, no dependents, only 1 or 2 exemptions)?

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ragelion
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Re: NYC Clerkship Bonus Post-Tax

Postby ragelion » Thu Sep 26, 2013 4:40 pm

FAT STACKS

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quakeroats
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Re: NYC Clerkship Bonus Post-Tax

Postby quakeroats » Thu Sep 26, 2013 4:46 pm

Anonymous User wrote:Any idea what a $50K clerkship bonus in NYC translates into after taxes (single, no dependents, only 1 or 2 exemptions)?


It's treated just like income, so what you'll owe will depend on when the bonus is paid out. If you're lucky, it'll be in the year you start working for the firm (and aren't making what you'll be making the next year).

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Re: NYC Clerkship Bonus Post-Tax

Postby Anonymous User » Fri Sep 27, 2013 2:55 pm

Not to hi-jack, but I am curious as to if any firms pay hiring than 50k for bonuses? also when do you get the bonus, the day you start or can you ask for advance?

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Re: NYC Clerkship Bonus Post-Tax

Postby Anonymous User » Sun Sep 29, 2013 4:14 pm

The after-tax amount was approximately $34K, if I remember correctly. You can ask for it before you start, but there's no guarantee you'll get it. Varies on a firm-by-firm basis, from what I understand. Some firms require you to repay the bonus (on a prorated basis) if you leave voluntarily before your one-year anniversary.




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