Skywest v2.0
12-23-2016, 03:24 PM
#4902
Gets Weekends Off
Joined APC: Aug 2014
Posts: 312
I think go jet and TSA are offering those people class dates but they are all owned by the same holding company. Highly doubt SKW would hire people with no interview.
12-23-2016, 03:54 PM
#4904
Gets Weekends Off
Joined APC: Feb 2016
Posts: 2,559
The part in bold doesn't apply to bonuses in most places; typically, they are not included in income, are withheld at a flat 25% federal rate, and your exemptions have no effect on them. You'll get back any amount you paid over on 4/15, as you mentioned.
OK, I realize this may be the first real job for many of you but taxation is not that difficult of a concept.
All earned income is taxed at the same rate – regardless of how it is being paid out. Whether you call it wages, bonus, tips or something else is pure semantics (and even some per diem is taxed as income).
The only thing that varies may be the withholding rate. The IRS basically withholds money because (1) they don’t want to give you an interest free loan and (2) they probably worry that you spend it all before they can collect it.
And btw, you can tune your withholding to whatever you want it to be. Just dial up the exemptions on your W4. You can claim as many as you want…. Just make sure you don’t owe too much at the end of the year or the IRS collects a penalty for that interest free loan you created.
Regardless the same tax rate applies to all earned income when it is all reconciled on 4/15.
All earned income is taxed at the same rate – regardless of how it is being paid out. Whether you call it wages, bonus, tips or something else is pure semantics (and even some per diem is taxed as income).
The only thing that varies may be the withholding rate. The IRS basically withholds money because (1) they don’t want to give you an interest free loan and (2) they probably worry that you spend it all before they can collect it.
And btw, you can tune your withholding to whatever you want it to be. Just dial up the exemptions on your W4. You can claim as many as you want…. Just make sure you don’t owe too much at the end of the year or the IRS collects a penalty for that interest free loan you created.
Regardless the same tax rate applies to all earned income when it is all reconciled on 4/15.
12-23-2016, 04:05 PM
#4905
Gets Weekends Off
Joined APC: Feb 2016
Posts: 2,559
Wrong, it's 25% federal withheld. Plus state, FICA (6.2%), SS (1.45%), plus any other sundries that may come out (uniforms, 401K contributions, union dues, etc. Varies by employee and company). These additional amounts that are withheld will reduce the net income, but no one can say exactly what it will be, as you did by saying "48%" because it varies person to person. Mine was nowhere near 48%, more like 34%.
You don't get half back in April, unless your ETR is 12.5%, which is highly unlikely unless you have multiple jobs or a working spouse. You'll get back the difference between 25% and your ETR, whatever that may be.
A bonus IS income. However, most bonuses are withheld using the flat rate method, and not included in your monthly salary. As I mentioned above, changing exemptions does not change a flat-rate bonus, only those which are rolled up into your regular salary checks. You CAN however, claim more exemptions monthly for your regular salary, knowing the fed will take that large bite out of your bonus; basically, "shorting" Uncle Sam on your salary because you know your bonus withholding will overcome that by the end of the year. Just make sure you know what you are doing and don't short ole "Sugar" too much, or you will pay a penalty for it.
And no, as was recently pointed out to me, PDT and ENY are not paying $60K as their ads portray. More like $51-53K. Their $60 figure is based on a FO flying 1000 hours their first year. Possible, but not likely.
HTH
You don't get half back in April, unless your ETR is 12.5%, which is highly unlikely unless you have multiple jobs or a working spouse. You'll get back the difference between 25% and your ETR, whatever that may be.
A bonus IS income. However, most bonuses are withheld using the flat rate method, and not included in your monthly salary. As I mentioned above, changing exemptions does not change a flat-rate bonus, only those which are rolled up into your regular salary checks. You CAN however, claim more exemptions monthly for your regular salary, knowing the fed will take that large bite out of your bonus; basically, "shorting" Uncle Sam on your salary because you know your bonus withholding will overcome that by the end of the year. Just make sure you know what you are doing and don't short ole "Sugar" too much, or you will pay a penalty for it.
And no, as was recently pointed out to me, PDT and ENY are not paying $60K as their ads portray. More like $51-53K. Their $60 figure is based on a FO flying 1000 hours their first year. Possible, but not likely.
HTH
Enlighten me then oh tax expert. 48% withheld. Get about half of that back in April. A bonus does not count as income. All these ads and recruiting ploys are claiming "60k" first year blah blah blah. They are counting the bonus and even republic is counting per diem as income.
12-23-2016, 08:37 PM
#4906
Gets Weekends Off
Joined APC: Aug 2015
Position: Guppy Gear Slinger
Posts: 2,037
Latest bid is out. Most junior CA (CRJ DTW) is a 2/23/15 hire. So that's 1 year, 10 months to upgrade...
(... And endure endless reserve torture in Detroit...)
(... And endure endless reserve torture in Detroit...)
12-23-2016, 08:54 PM
#4907
Ich bin Pilot von Beruf
Joined APC: Aug 2016
Position: CRJ Kapitän
Posts: 615
How are you all calculating how low upgrade time is?
12-24-2016, 06:19 AM
#4909
Endless Reserve
Joined APC: Nov 2012
Position: E190 FO
Posts: 386
Skywest v2.0
12-24-2016, 07:56 AM
#4910
Gets Weekends Off
Joined APC: Aug 2015
Posts: 106
Who knows when the performance bonus check comes out in January? PPS check comes in Feb some time too?
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