bigtime209

Nobody panic. The guy that posted that is a well known troll that likes to make ridiculous, false claims to try to get people all riled up.

Theaveragejoker

Profit sharing is in our pilot contract, and I think they were complaining about the confusion not the remuneration.

RussellCasse

If you are single and your AGI was between $37,950 and $91,900 you’re right that it was taxed at 25%. It likely was withheld at 25% (as most companies chose the 25% bonus withholding method because it’s easier) as well. If you were lucky enough to be over $91,900, it was taxed at 28% but still withheld at 25% so you owed another 3% over what was withheld. Fun times indeed.

Good news though, not only has the third marginal rate dropped to 22% but the 4th is 24% which goes up to $157,500. So on a percentage basis your tax liability will be several points less than in previous years.

However, the IRS has not issued updated withholding tables for 2018 so companies are still withholding taxes as if the rates were the same as 2017. Additionally, as far as I can tell the bonus withholding method is staying at 25% so this time next year you will have more money withheld than you owe and your refund will be higher (or payment lower depending on your W-4 and a million other factors too varying to addresss here).

I type all that with no political views or leaning, strictly numbers to illustrate a point. There’s a difference between money being taxed and withheld. It’s a bit of a pet peeve of mine so my apologies for jumping on your post. It was just the most recent and it’s tax season so the conversation (lecture?) seemed pertinent. Happy filing everyone!

Oh and I think you’re right, Parker will announce the results THEN. I hope it’s more THAN last year!

Battlinbear21

This is what I was Looking for. Wasn’t complaing about receiving any add ons... I bring it up because it is tax season, and majority of us never understood before. much less w the new law. There was a ton of rumors last year about the % and which number they used in their calculations gross/net. My guess from last year is 4 points to your Net then taxed at 25 or the way you broke it down. The gov always get their money someway. The company did put out a bulletin on how it was calculated shortly before they did the payouts I just cannot recall how it was done. Figured it was relevant since we are now waiting for the w2.

Jersdawg

New tax law won't affect 2017 earnings, only 2018 earnings. Good rundown here: http://www.cpapracticeadvisor.com/news/12388258/when-will-new-2018-tax-reform-law-take-effect

sailingfun

Bonus money is really very simple. It’s taxed as ordinary income at whatever your marginal rate is. For withholding purposes it’s withheld at 25% not what you have on file with the company. It is not taxed at 25%.

MKUltra

Yes.. withholdings and taxes paid are completely different... easy to just after taxes... keeping my fingers I get a lot of those withholdings back.. but i am losing some of my itemized deductions... sucks

67Creek

Ground school (including systems) now takes place right before sim availability, not in correlation with indoc, correct? IOW, you roll right from ground into sims with no break in between?

And can anyone provide a ballpark figure for when the February class can expecting to go to ground? Did the small Dec/Jan classes shorten the timeline ?

MKUltra

Sims are backed up a bit again.. expect to 4 to 6 weeks off. From ground to sim.

MKUltra

Sims are backed up a bit again.. expect to 4 to 6 weeks off. From ground to sim.