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UPS Discussions
No tax on overtime
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<blockquote data-quote="nWo" data-source="post: 6118197" data-attributes="member: 86976"><p>Marshall’s proposal would deny the new deduction to some top earners and cap it at $10,000 for individuals and $20,000 for married couples, according to the Wall Street Journal. The break for overtime pay would additionally be phased out once an individual’s adjusted gross income surpasses $100,000 or when a married couple’s income reaches $200,000.</p><p></p><p></p><p>Fyi. Current bill that passed the house. So a single topped out UPS driver would hit the cap after 150 hours of OT. So about 3 hours of OT a week untaxed. That's phased out when you go over $100,000 a year.</p><p></p><p>So no need to hit 60 every week. Hit 43 for the maximum tax benefits.</p></blockquote><p></p>
[QUOTE="nWo, post: 6118197, member: 86976"] Marshall’s proposal would deny the new deduction to some top earners and cap it at $10,000 for individuals and $20,000 for married couples, according to the Wall Street Journal. The break for overtime pay would additionally be phased out once an individual’s adjusted gross income surpasses $100,000 or when a married couple’s income reaches $200,000. Fyi. Current bill that passed the house. So a single topped out UPS driver would hit the cap after 150 hours of OT. So about 3 hours of OT a week untaxed. That's phased out when you go over $100,000 a year. So no need to hit 60 every week. Hit 43 for the maximum tax benefits. [/QUOTE]
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No tax on overtime
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