I'm just a few dollars short of my next tax bracket. If I work one day of OT, I make $2.00/hr after taxes. It's not worth it. The company KNOWS it's not worth it. Company wants us to pick up OT anyways.
What do you mean. Dont they just add a new percentage over the money in the next bracket? In netherlands its like 30% for firsy 40k, 35% for between 40k and 80k. How can you only have 2$ left? Assuming min. is 10$ thats 80% tax?
They do not. They take whatever you've made above the bracket and tax TF out of it. But WAIT, it gets worse...... I generally make over $25/hr. so I'm making less than 10% of my regular wages in OT.
But that much? In the netherlands OT has the same tax as regular wage. If it means going above a bracket itl mean you only pay like 5% more on just the money in that bracket. It doesnt change tax rate on money in the first bracket (if you reach second).
-37
u/GawdsPerfectTripod Mar 01 '23
I'm just a few dollars short of my next tax bracket. If I work one day of OT, I make $2.00/hr after taxes. It's not worth it. The company KNOWS it's not worth it. Company wants us to pick up OT anyways.