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20 sats \ 6 replies \ @Satosora 12 Sep \ on: Income Taxes Don't Disincentivize Work econ
You should see how much they take when you work overtime. Holy smokes.
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20 sats \ 5 replies \ @Undisciplined OP 12 Sep
I remember that. It's because they assume your weekly earnings will be constant all year, so overtime pushes you into a much higher bracket.
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24 sats \ 4 replies \ @Satosora 12 Sep
You can easily go into a higher bracket if you are given overtime.
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20 sats \ 3 replies \ @Undisciplined OP 12 Sep
It's hard not to.
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34 sats \ 2 replies \ @Satosora 12 Sep
But I think some of it comes back during returns.
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20 sats \ 1 reply \ @Undisciplined OP 12 Sep
That's right. You're basically forced to make a zero interest loan to the government until you get your refund.
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33 sats \ 0 replies \ @Satosora 12 Sep
Right, which is a crapshoot. You could claim more dependents, and things, but that makes the calculations even harder to manage.
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