In Part 1 of this quick two-part series on bonuses, we looked at how to deal with the uneven cash flow aspects of receiving large bonuses.

In this installment, we’re going to go into more detail about different ideas of what to do with the money.

Bonuses. They’re the best, no?

A nice infusion of cash that comes in and opens up so many opportunities.

A common issue people run into is how to deal with the “cash flow” aspects of receiving a large bonus. In this post, we’ll look at a couple of different ways to deal with the issue of having uneven cash flow, illustrated with specific examples.

FSAs can be fantastic tools to essentially get a discount/deduction on health care and/or dependent care. And there’s a temporary rule in effect for 2020-2021 that can allow even more flexibility.

You may have heard or seen that, as of July 2021, the IRS is starting to send out advance payments for the Child Tax Credit. This short article goes over some of the basics.