We'll have to catch you guys next time the invite went out via G+, but I don't have everyone in my AC circle apparently. Sorry for that, I'm glad you had some fun though!
MetalbourneInside a cluster b personalityRegistered Userregular
The plus side of working in a call center is that ten hours a day chained to a desk with nothing but a gob of clay to keep me company has made me really confident in my ability to shape clay.
This buttons feels insecure and unsure of itself. Hail hydra, I think? I just don't know anymore. It also feels like one of the more tamer cards against humanity.
I'm still in the middle of apartment woes, saw this perfect apartment yesterday so now we're trying to do everything we can to get out of here and get our lease broken so we don't get stuck with renting it out cause no one's going to want it, ugghh ffml I just want my life back.
Anyone want to go to THE FEST this year?? It's basically the only music festival I can justify going to (but it also has almost all of my favorite bands), and I think I can budget for it now. Anyone up for sharing a room? The Descendents are headlining!! https://thefestfl.com
Side note: did anyone else notice that these forums support Hebrew??
I'm traveling by plane today for vacation so alternating reading Bone for the first time and sketching. So I'm sketching Bone characters and did a couple I loved.
Flight ends, get to my final destination and begin to unpack, sketchbook is still on the plane.
I'm traveling by plane today for vacation so alternating reading Bone for the first time and sketching. So I'm sketching Bone characters and did a couple I loved.
Flight ends, get to my final destination and begin to unpack, sketchbook is still on the plane.
Made the mistake of being a good employee and coming in on all of my days off over the past week to work for people who called off and made less due to overtime taxes (which I guess are a thing?) than if I had only worked my normal schedule. I enjoy working and being helpful but it seems a little counterintuitive to penalize somebody for being a hard worker.
Made the mistake of being a good employee and coming in on all of my days off over the past week to work for people who called off and made less due to overtime taxes (which I guess are a thing?) than if I had only worked my normal schedule. I enjoy working and being helpful but it seems a little counterintuitive to penalize somebody for being a hard worker.
That...doesn't seem right.
I can see your company withholding more in taxes since you're getting paid more for that time (or at least, you should be), but if they're withholding so much that you're actually making less money, it sounds like there's something severely off with their accounting. Since your income taxation rate depends on your total annual earnings and there's no distinction between 'overtime' and 'regular' pay on your W-2, I expect you'll probably be getting some money back when you file your income taxes (presuming your workplace isn't doing something shady like misreporting things to the IRS here).
They may also be withholding more because they may be anticipating this and future overtime pay may bump you into a higher tax bracket, but tax brackets don't work in a way where you can actually go home with less total money just because you're in a higher tax bracket (in spite of what a lot of people seem to believe). You may want to check with your payroll department on what their reasoning is for withholding so much- you may be able to have them withhold less so you don't have to wait until next year's tax time to see that money.
That is, unless there's something screwy with your specific state's tax laws re: overtime pay.
I know taxes about as well as I know astrophysics. So I guess I'm gonna try and keep my hours under 40 per pay period and see how that goes.
If you're doing that, do it for quality of life reasons (which is valid) and not because you think you're going to be making less money working overtime (which is not, provided your company is on the up and up).
Telling people they're going to be making less money if they take a raise/work overtime because of 'tax brackets' is something done by unscrupulous/misinformed bosses to avoid paying more to their employees.
In case you're wondering, this is how tax brackets work, as far as my very basic understanding of the matter goes.
For the sake of simplicity, I'm going to make up some simple round numbers for my example.
Let's say you've got a system with only 2 tax brackets:
$1-10000 = 10%
$10001+ = 50%
Let's say you're currently earning $9000 a year.
So, 10% of $9000 = $900, leaving you with $8100 in take home pay.
Now let's say you get a raise, to $15000.
A lot of people here think, "WELL GOLLY GEE WHILLAKERS! 50% of $15000 is $7500! I'll take home less money if I take this raise!"
These people are wrong, and if they don't take the raise they are doing something very stupid.
This is how it works.
The calculation for how much you owe is made by taking the first bracket's worth of wages and applying THAT bracket's rate to it, and the remainder is taxed at the next bracket's rate. (If you had more brackets, each successive bracket would be taxed at that individual bracket's rate).
So it would look more like this:
$10000 at 10% = $1000
+
$5000 at 50% = $2500
$3500 owed in tax
Total take home pay: $11500
Not as much as you may hope, but certainly still more than what you were earning before. This is why the IRS sends out that booklet with the tax owed per wage every year at tax time, rather than just telling people to punch in simple percentage rate on a calculator- there's actually a good deal of math to do if you want to work it out yourself.
Now my example uses an absurdly high tax rate, but it serves to prove the concept: you cannot actually lose money by moving into a higher tax bracket. The tax bracket would have to be 100%+ for that to be the case (the current rate on the highest federal tax bracket is 39.6%, btw). Now, it can come as a surprise come tax time if you weren't withholding enough over the year to meet the rate on the new bracket, or if something was counted as wages that you weren't anticipating (like stock grants), and people can be surprised that the raise didn't put as much additional money in their pocket as they were hoping, but that doesn't mean you're actually earning less overall.
This is why your 'I'm taking home less by earning more!' statement seems pretty suspect- at a base level, it makes little sense. I'm not an accountant and I admit there may be circumstances where that turns out to be the case (the additional income disqualifying you for low income tax breaks/subsidies for health care/etc. and the raise not being able to cover the difference may be one circumstance), but under normal circumstances it shouldn't be.
Fake Edit: Well, you edited your post since I started typing this but dammit, I've come too far to not post it now.
It's a good concept to be familiar with even if it doesn't apply here anyway, in case you have to deal with a boss or otherwise uninformed person spouting off some BS about this issue.
Basically everyone I work with was gnashing about how "so-and-so got a raise and is making less money now because they edged into a higher tax-bracket" a few weeks ago, and thought I was taking crazy pills when I suggested that wasn't how taxes work.
Of course, nobody seems to agree with me when I say that petting dogs leaves your hands feeling grody either, so it's nice to feel vindicated about something.
Basically everyone I work with was gnashing about how "so-and-so got a raise and is making less money now because they edged into a higher tax-bracket" a few weeks ago, and thought I was taking crazy pills when I suggested that wasn't how taxes work.
That's when you offer to take everyone else's raises on their behalf. With a noble, self-sacrificing 'taking one for the team' tone that makes it seem you're doing them a huge favor by taking tens of thousands of dollars off their hands.
Posts
i got a bottle of wine and nooooooo obligations
You missed it. You can't un-miss it!
We have a Hail Hydra button.
My god.
what am I even doing?!
how are you
3DS: 0447-9966-6178
Hi molybendium I'm doing great. How are you?
How goes the search for jerbs?
I am about to be totally caught up on my laundry, which is strangely satisfying.
Still unsuccessful. I have a few promising leads, but none of my promising leads have turned into anything for the past six months.
3DS: 0447-9966-6178
This buttons feels insecure and unsure of itself. Hail hydra, I think? I just don't know anymore. It also feels like one of the more tamer cards against humanity.
I'm still in the middle of apartment woes, saw this perfect apartment yesterday so now we're trying to do everything we can to get out of here and get our lease broken so we don't get stuck with renting it out cause no one's going to want it, ugghh ffml I just want my life back.
http://www.pinterest.com/characterdesigh/
This thing is insane
I should've gone to bed like 3 hours ago. I'm the best at bedtimes.
It was Hail Hydra all along. All your bros.
The movie only came out a couple of weeks ago here.
Side note: did anyone else notice that these forums support Hebrew??
Wait whaaat, I thought this was about Pokemon.
Flight ends, get to my final destination and begin to unpack, sketchbook is still on the plane.
Lol look at this noob
Did you call the airline? They probably kept it.
That...doesn't seem right.
I can see your company withholding more in taxes since you're getting paid more for that time (or at least, you should be), but if they're withholding so much that you're actually making less money, it sounds like there's something severely off with their accounting. Since your income taxation rate depends on your total annual earnings and there's no distinction between 'overtime' and 'regular' pay on your W-2, I expect you'll probably be getting some money back when you file your income taxes (presuming your workplace isn't doing something shady like misreporting things to the IRS here).
They may also be withholding more because they may be anticipating this and future overtime pay may bump you into a higher tax bracket, but tax brackets don't work in a way where you can actually go home with less total money just because you're in a higher tax bracket (in spite of what a lot of people seem to believe). You may want to check with your payroll department on what their reasoning is for withholding so much- you may be able to have them withhold less so you don't have to wait until next year's tax time to see that money.
That is, unless there's something screwy with your specific state's tax laws re: overtime pay.
Twitter
They hold back a week on our pay so all those hours I worked I haven't even been payed for yet! So mystery solved.
If you're doing that, do it for quality of life reasons (which is valid) and not because you think you're going to be making less money working overtime (which is not, provided your company is on the up and up).
Telling people they're going to be making less money if they take a raise/work overtime because of 'tax brackets' is something done by unscrupulous/misinformed bosses to avoid paying more to their employees.
In case you're wondering, this is how tax brackets work, as far as my very basic understanding of the matter goes.
Let's say you've got a system with only 2 tax brackets:
$1-10000 = 10%
$10001+ = 50%
Let's say you're currently earning $9000 a year.
So, 10% of $9000 = $900, leaving you with $8100 in take home pay.
Now let's say you get a raise, to $15000.
A lot of people here think, "WELL GOLLY GEE WHILLAKERS! 50% of $15000 is $7500! I'll take home less money if I take this raise!"
These people are wrong, and if they don't take the raise they are doing something very stupid.
This is how it works.
The calculation for how much you owe is made by taking the first bracket's worth of wages and applying THAT bracket's rate to it, and the remainder is taxed at the next bracket's rate. (If you had more brackets, each successive bracket would be taxed at that individual bracket's rate).
So it would look more like this:
$10000 at 10% = $1000
+
$5000 at 50% = $2500
$3500 owed in tax
Total take home pay: $11500
Not as much as you may hope, but certainly still more than what you were earning before. This is why the IRS sends out that booklet with the tax owed per wage every year at tax time, rather than just telling people to punch in simple percentage rate on a calculator- there's actually a good deal of math to do if you want to work it out yourself.
Now my example uses an absurdly high tax rate, but it serves to prove the concept: you cannot actually lose money by moving into a higher tax bracket. The tax bracket would have to be 100%+ for that to be the case (the current rate on the highest federal tax bracket is 39.6%, btw). Now, it can come as a surprise come tax time if you weren't withholding enough over the year to meet the rate on the new bracket, or if something was counted as wages that you weren't anticipating (like stock grants), and people can be surprised that the raise didn't put as much additional money in their pocket as they were hoping, but that doesn't mean you're actually earning less overall.
This is why your 'I'm taking home less by earning more!' statement seems pretty suspect- at a base level, it makes little sense. I'm not an accountant and I admit there may be circumstances where that turns out to be the case (the additional income disqualifying you for low income tax breaks/subsidies for health care/etc. and the raise not being able to cover the difference may be one circumstance), but under normal circumstances it shouldn't be.
Fake Edit: Well, you edited your post since I started typing this but dammit, I've come too far to not post it now.
It's a good concept to be familiar with even if it doesn't apply here anyway, in case you have to deal with a boss or otherwise uninformed person spouting off some BS about this issue.
Twitter
Of course, nobody seems to agree with me when I say that petting dogs leaves your hands feeling grody either, so it's nice to feel vindicated about something.
That's when you offer to take everyone else's raises on their behalf. With a noble, self-sacrificing 'taking one for the team' tone that makes it seem you're doing them a huge favor by taking tens of thousands of dollars off their hands.
Twitter
HEY @Mynt
I really liked what you Strip Searchers had at PAX, and I was thinking of getting a variation on that if it was fair game...
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