I don't get it

[Spooner]

I just got a new job, with a $7,000 raise.

I've been noticing that my pay checks are only about $220 higher per check. Shouldn't it be more than that?

 

[loup garou]

Taxes, my friend, are an evil thing.

 

[Chaotic42]

$220x26 paychecks = $5720

If that raise threw you into a higher tax braket, that would be about right.

 

[radioouman]

$7000 raise is $291.66 per paycheck, assuming that you have 24 paychecks per year. Then take off taxes

 

[Spooner]

Originally posted by: werk
Taxes, my friend, are an evil thing.

I went from $53k to $60k... is it that big of a tax difference?

 

[Spooner]

There are 26 payments a year.

I forgot about my 401k contributions. I will have to look into this further.

This upsets me.

 

[blackdogdeek]

Originally posted by: Spooner

Originally posted by: werk
Taxes, my friend, are an evil thing.

I went from $53k to $60k... is it that big of a tax difference?

it could be just enough to put you in a higher bracket. like if the cutoff is $59,999 or something.

 

[Spooner]

Originally posted by: blackdogdeek

Originally posted by: Spooner

Originally posted by: werk
Taxes, my friend, are an evil thing.

I went from $53k to $60k... is it that big of a tax difference?

it could be just enough to put you in a higher bracket. like if the cutoff is $59,999 or something.

That would anger me. :frown:

 

[kermalou]

be happy that you can pay that much in taxes, it's better than nothing at all.

 

[Hammer]

well after deductions, you might fall under it, in which case you'd get a lot back.

 

[CPA]

You did not move up into a new tax bracket. Assuming you are paid bi-weekly, you are still in the 27% bracket.

 

[Pixelated]

Originally posted by: Spooner

Originally posted by: blackdogdeek

Originally posted by: Spooner

Originally posted by: werk
Taxes, my friend, are an evil thing.

I went from $53k to $60k... is it that big of a tax difference?

it could be just enough to put you in a higher bracket. like if the cutoff is $59,999 or something.

That would anger me. :frown:

you're getting paid more now. be happy

 

[radioouman]

Yeah, I would be really upset getting an extra $500 per month tooo....

 

[yoda291]

I don't get it

You are not put on this world to "get it".

-movie reference.