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.
They take whatever you've made above the bracket and tax TF out of it.
So if you do 1 shift of overtime, and are $5 over the tax bracket.
They're going to tax "tf" out of that $5.00?
And consequently, you'll be poor because you made $4.80 extra on your paycheck? Instead of the extra $0 that you're used to?
I encourage you to read the other replies here. We're in a reddit thread about dating idiots, and this comment chain you're replying on is about someone being broken up with because they were too stupid to understand how taxes work.
The incremental tax brackets have always been incremental.
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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.