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No tax on overtime
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<blockquote data-quote="JL 0513" data-source="post: 6160062" data-attributes="member: 50088"><p>Another significant detail that hadn't come to mind before. The language that states $12,500 for single, $25,000 for married filing jointly. I had kinda assumed even married, that each person would be capped at $12,500. Not the case. Many of us, myself included, have wives that don't work OT. This means we can individually take the full $25,000 of OT cap if filing jointly. So that $2,750 we've been talking about is actually $5,500 in realized tax savings if you reach max hours. (7-8 hours a week OT). Lots of us do that, of course some don't.</p></blockquote><p></p>
[QUOTE="JL 0513, post: 6160062, member: 50088"] Another significant detail that hadn't come to mind before. The language that states $12,500 for single, $25,000 for married filing jointly. I had kinda assumed even married, that each person would be capped at $12,500. Not the case. Many of us, myself included, have wives that don't work OT. This means we can individually take the full $25,000 of OT cap if filing jointly. So that $2,750 we've been talking about is actually $5,500 in realized tax savings if you reach max hours. (7-8 hours a week OT). Lots of us do that, of course some don't. [/QUOTE]
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