Any "Latest & Greatest" about Endeavor?
05-18-2016, 02:34 PM
#4801
Gets Weekends Off
Joined APC: Dec 2013
Posts: 2,303
Then don't claim a 0 or 1. That simple really, you can have your cake and not wait till the end of the year to eat it too. Not sure why this is such a difficult concept for so many people to understand, the IRS even has a calculator to help you figure it out. What you pay throughout the year in normal pay roll taxes can be drastically reduced because of the tax taken out on the bonus.
05-18-2016, 03:25 PM
#4802
Gets Weekends Off
Joined APC: Oct 2013
Posts: 288
Then don't claim a 0 or 1. That simple really, you can have your cake and not wait till the end of the year to eat it too. Not sure why this is such a difficult concept for so many people to understand, the IRS even has a calculator to help you figure it out. What you pay throughout the year in normal pay roll taxes can be drastically reduced because of the tax taken out on the bonus.
05-18-2016, 06:13 PM
#4804
Gets Weekends Off
Joined APC: Aug 2013
Posts: 550
Yea I'm wondering where all the newhires for the 900 are going. How long have you been here? I'm coming up on a year and finally went to the 900 because the schedules look more productive.
05-18-2016, 06:55 PM
#4806
Gets Weekends Off
Joined APC: Feb 2016
Posts: 2,559
I understand the tax brackets, but those have nothing to do with the bonus. Even if one is in the 15% tax bracket, this bonus is taxed Federally at 25% flat rate. Doesn't matter what dependents or allowances a person claims.
The 38% is pretty accurate for my situation, though of course it varies by state.
The 38% is pretty accurate for my situation, though of course it varies by state.
The federal tax rate for a single person making $36,750-$91,150, your federal tax rate is estimated at 25%. There are obviously deductions and other considerations, plus state/local taxes.
You may very well be taxed at 38% depending on your income and deductions. If local and state taxes are high, 38% is certainly a reality.
You may very well be taxed at 38% depending on your income and deductions. If local and state taxes are high, 38% is certainly a reality.
05-18-2016, 07:26 PM
#4807
Gets Weekends Off
Joined APC: Feb 2008
Position: FIRE ALPA
Posts: 3,097
HAHAHA!!! Nope, if there are 10 reserve lines one month scheduling wants 12 every day. The next month there are 15 (so you'd think as we didn't add hours in the base, they'd be 3 over need...) nope now they want 17 reserves. Give them 20 and now they want 24.... It's a glaring hole in our contract at this moment (thankfully many have been filled in, but once again reserve stuff is low priority)
05-18-2016, 07:28 PM
#4808
Gets Weekends Off
Joined APC: Feb 2016
Posts: 2,559
Claiming a 0 or 1 has no bearing on the 38% that comes out for FITW. It's really that simple. It will affect state tax, of course. The rest is correct.
Then don't claim a 0 or 1. That simple really, you can have your cake and not wait till the end of the year to eat it too. Not sure why this is such a difficult concept for so many people to understand, the IRS even has a calculator to help you figure it out. What you pay throughout the year in normal pay roll taxes can be drastically reduced because of the tax taken out on the bonus.
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