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Reason: None provided.

I have a character flaw where I cannot control impulse to clear misconceptions about taxes, this is my apology in advance.

There are no overtime taxes and no one pays more for overtime. We have progressive taxes where there are brackets and your tax rate is determined by which bracket your income puts you in. Let’s say you make $70k, you pay a certain tax rate for like the first 18k(example number, probably not accurate) then you pay a higher tax between $18k and $75k, etc…

So fear not my dude, your overtime is being taxed at the same rate and it only appears like more taxes because your paycheck was higher than you base salary.

61 days ago
7 score
Reason: Original

I have a character flaw where I cannot control impulse to clear misconceptions about taxes, this is my apology in advance.

There are no overtime taxes and no one pays more for overtime. We have progressive taxes where their are brackets and your tax rate is determined by which bracket your income puts you in. Let’s say you make $70k, you pay a certain tax rate for like the first 18k(example number, probably not accurate) then you pay a higher tax between $18k and $75k, etc…

So fear not my dude, your overtime is being taxed at the same rate and it only appears like more taxes because your paycheck was higher than you base salary.

62 days ago
1 score