4 ms·
According to your definition, my money number is zero. Also, many hourly workers refuse overtime due to the ramp on taxation after 40 hours.
by landemva 4y ago
According to your definition, my money number is zero.
Also, many hourly workers refuse overtime due to the ramp on taxation after 40 hours.
- mlyle 4y agoThere's no ramp on taxation after 40 hours in any jurisdiction I'm aware of-- just a ramp on income tax based on amount earned. If you're making $800/week ($20/hour) and seeing withholding at 10%, the marginal withholding might be 20% on a step up to $950; on the other hand, you're getting time-and-a-half, so you still go from taking home $18/hour to $24/hour. (And, of course, for occasional overtime work, you're going to get a lot of the additional tax withholding back, since your uneven income causes you to be overwithheld).