Overtime this week

[Marsden 1st MRB]

With that much scheduled overtime I will be able to go home with at least 22 hours of OT as I get an hour of overtime regardless every night because I'm a closer and a supervisor. I love my job lol (except when it keeps me away from games. then i hates it so bad.)

[Mottola 1st MRB]

We hate your job too

[Gearhart 1st MRB]

Wont taxes rape you anyways when working overtime?

Every extra hour worked is taxed at the worker's highest marginal tax rate. Sometimes it can move you to a higher tax bracket.

On your overtime earnings, you will probably have to pay a 28 percent federal income tax, a 7.65 percent federal payroll tax, and roughly a 6 percent state income tax (assuming you live in an average-tax state). Your employer must pay a 7.65 percent payroll tax on your behalf. (looks like I learned something in this class actually..maybe) I never really continued my accountant venture so I am not sure how this will affect you actually lol.

I remember an example from Payroll Accounting from college which went something like this:

Overtime Pay.....................$240.00

Federal Income Tax............$63.20

State Income Tax...............$14.40

Employee-Paid Payroll Tax...$18.40

Total Employee Taxes.........$96.00

Employer Payroll Tax...........$18.40

Worker's Take-Home Pay....$144.00

Government's Take.............$114.40

So as cool as getting a time and half of over time pay it may not be that great

but hey money's money is what I always say

New job for you. Play video games

Edited July 26, 2012 by Gearhart 1st MRB

[Cast 1st MRB]

Try not to strangle anyone with your phone marsden lol

[Marsden 1st MRB]

Lol I'll avoid it cast and damn son thats a lot of info, but luckilly I'm under 25 so I have to work 43 hours of overtime to hit my next tax bracket so mine stays at about 20% taxed total, yay will-to-work states

[evo-lution ßÄЯ]

Used to get OT then i had a bitch of a manager cut my hours cause i was the most productive one around and made even my supervisor look bad...

[Marsden 1st MRB]

Lol i am a supervisor XD

[evo-lution ßÄЯ]

Lol i am a supervisor XD

Well here is hoping you are no where near as incompetent as my old set of managers was >.<.... Got yelled at for making copies of paper work that we get yelled at if we dont have... yeah yeah thats right lol

[Marsden 1st MRB]

lol thats epic fail

[Quarterman 1st MRB]

My last cheque I got over 1500 taken off for taxes. xD