“The more money you make the more they take in taxes” would you take a $3.00 raise

[Skydove]

How Getting a Raise Affects Your Taxes

Many people think they may actually make less overall because they are paying more taxes.

www.investopedia.com

The biggest increase is from
$44,725-$44,726
That 1 dollar will be the difference between you getting taxed 22% or 12%

All other brackets are pretty modest.

$95,375-$95,376 is the best. You make 1 dollar more and you only seeing 2% difference

 

[doggface]

Did you read the article? I don't think it works like you think it does.

If you made 44,725 and get a one dollar raise, the 44,725 will still be taxed at 12%, the additional dollar will be taxed at 22%.

 

[RoomService]

"The more money you make the more they take in taxes"​

This statement isn't true for everyone.

 

[Skydove]

This statement isn't true for everyone.

Yes indeed. This why I posted the article. If you make more within your tax bracket you good. But if you make more and it put you in a higher tax bracket then you may be fucked

 

[sammyjax]

 

[Coldchi]

Either way....me and my wife are taxed at 35%

 

[Skydove]

Did you read the article? I don't think it works like you think it does.

If you made 44,725 and get a one dollar raise, the 44,725 will still be taxed at 12%, the additional dollar will be taxed at 22%.

I hear you but if this was true when I work time and a half over time my gross pay should not be taxed more if I haven’t crossed the threshold into a higher tax bracket.

 

[Flawless]

Yes, there are things you can do to reduce that income like putting more in your 401k or Roth IRA

 

[Flawless]

Yes indeed. This why I posted the article. If you make more within your tax bracket you good. But if you make more and it put you in a higher tax bracket then you may be fucked

That's not how taxes work.

if you make $1 more over the $44,725 you will only pay higher tax on the $1

 

[Skydove]

That's not how taxes work.

if you make $1 more over the $44,725 you will only pay higher tax on the $1

I understand that’s what the article says. If this was true my check should. Be less and less throughout the year

 

[sammyjax]

jesus