The six-figure club.
Discussion in 'LTL and Local Delivery Trucking Forum' started by MACK E-6, Dec 31, 2021.
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prostartom Thanks this.
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Also known as progressive taxation. This is the biggest misconception of most workers: that working more is not worth it at some point because "the government takes most of it." As was mentioned before, you can get that perception from one check but it's just over withholding. It all works out when you file your taxes.
When you enter a new tax bracket, not all of your money is taxed at the new rate, just the amount you earn within that bracket. All the money you earned below that bracket is taxed in the lower brackets.
You can see how this works by looking in the IRS tax tables. For example, there's never a point where earning 50 dollars more causes you to owe a thousand dollars more in taxes or anything like that. You literally cannot perceive the line where you enter the next tax bracket.road_runner, Gearjammin' Penguin, gentleroger and 1 other person Thank this. -
dwells40 Thanks this.
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My raise didn’t hit until later in the year so I only got $97,500 but next year I should do 110.
but I owe Uncle Sam $3500 bucks that #######.LPjunior1970 Thanks this. -
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jtaran06 and Bob Dobalina Thank this.
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
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