Vote count prediction

Phillip J Fry

sobbing between stops
For the fifty-bajillionth time on this forum and in my hub:

Bonus checks, overtime, double-time, and everything else are taxed at the exact same rate as your regular check. There is NO penalty for getting a different type of wage, separate checks, or a higher rate for different work.

The tax rate does not change.

Good grief.
supplemental wages, i.e. bonuses, are taxed at a different rate than normal income. You might get it back later but the rate is certainly different, wade through the IRS paperwork if you'd like, or a quick google search will work if you don't believe me. There are exceptions I believe for people who work for tips and the like but that's considered part of their regular pay.
 
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BadIdeaGuy

Moderator
Staff member
They don't turn out in large numbers.

Historically speaking, yeah.
But my fellow part timers are mostly millenials.

And there's nothing they like more than protesting authority figures, and using their phones. When it's made stupidly easy, that is.
So I could actually see turnout from part timers being okay.

We'll see how the e-voting shakes things up.
 
Historically speaking, yeah.
But my fellow part timers are mostly millenials.

And there's nothing they like more than protesting authority figures, and using their phones. When it's made stupidly easy, that is.
So I could actually see turnout from part timers being okay.

We'll see how the e-voting shakes things up.
I would love to see that.
 

DriveInDriveOut

Inordinately Right
supplemental wages, i.e. bonuses, are taxed at a different rate than normal income.
Taxes on supplemental wages are withheld at a set 22%. That's not the tax rate though.

Look at it this way. For a married person paid weekly, every dollar on your paycheck over $1711 also has taxes withheld at 22%.

It's just how withholding is done, it doesn't matter unless you're living paycheck to paycheck. It all balances out at tax time.
 

wilberforce15

Well-Known Member
On payday it is.

You are not taxed on payday.

Your money is withheld for taxation on payday.

Until you file your taxes, the money taken from the check is just a provisional number, a guess, or an expectation to make sure you're not doing anything crazy.
 

wilberforce15

Well-Known Member
It's not worth going back and forth over.
Peace

Yes, it is.

I know people who give up $10k a year, at least, because they don't think overtime is "worth it" because of the taxation.

They completely misunderstand this issue, and that misunderstanding has cost them nearly the purchase price of a small house over their career.

They could have six figures that they currently do not have, if they had only listened to the IRS or me.

Ignorance is very expensive.
 
Yes, it is.

I know people who give up $10k a year, at least, because they don't think overtime is "worth it" because of the taxation.

They completely misunderstand this issue, and that misunderstanding has cost them nearly the purchase price of a small house over their career.

They could have six figures that they currently do not have, if they had only listened to the IRS or me.

Ignorance is very expensive.
I'll take all of the overtime I can get because it puts a lot more into my 401k
 

Time for change

Well-Known Member
So that would mean it's not taxed differently.
Not really true. Those hourly wages are taxed differently on your paycheck , and it could even out come tax time but not always. 75k is not always 75k to Uncle Sam. Dependents, solar panels, home credit, farm credit, side businesses, cash work going unreported etc. play a huge factor as well.
 
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