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ImportConvert 03-07-2011 12:19 PM

Quote:

Originally Posted by 1slow370 (Post 973100)
I have friends and LOTS of work to fill my time, lonely is more of a politically correct way of saying what i really want to say lol

My problem is work. I only work 3-4 days a week, and if I picked up OT, it would bump me into the next tax bracket just BARELY unless I picked up a TON of OT to get into the meat of that bracket. Basically, I can work what I work now, or work a little more and make nothing for it, or work 6 days a week and make a bit more.

I'll just be bored at times, lol.

ChrisSlicks 03-07-2011 12:47 PM

Quote:

Originally Posted by ImportConvert (Post 973807)
My problem is work. I only work 3-4 days a week, and if I picked up OT, it would bump me into the next tax bracket just BARELY unless I picked up a TON of OT to get into the meat of that bracket. Basically, I can work what I work now, or work a little more and make nothing for it, or work 6 days a week and make a bit more.

I'll just be bored at times, lol.

Tax brackets don't work that way. You're not going to lose out because you go into the next bracket by $1000, only the portion that falls into that bracket gets taxed at the higher rate.

Let's say you earned $35000, the first $34000 would be taxed at 15%, the last $1000 would be taxed at 25%. Sure, you getting 10% less out of the extra work that puts you over but it's not like your ever going to lose money by working more.

Tax brackets explained
Tax rate calculator

1slow370 03-07-2011 01:47 PM

yup i did that this year too and my return was the largest it's ever been, take home went up return went up so it's all good


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