Political Discussion

AnthonyI said:
This is DJT smoke and mirrors by the way. OT is not currently "taxed" for being OT. Its just like a bonus, it counts towards your total income. What's raising your taxes is your OT pushing you into a higher tax bracket at the end of the year. So unless he's going to overhaul how OT is calculated/separated from your annual income, good luck with that, tell your co-workers not to hold their breath.
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Um… it’s been a couple of years, but the last time i had overtime, it was definitely taxed at a different rate (much like any bonus) at time of pay.

From an income tax standpoint you are correct. From a withholding from your check, you are incorrect.

Of course, there may be a difference in “salaried” overtime and regularly houred overtime that i am unaware of.
 
Nee Lewman said:
Um… it’s been a couple of years, but the last time i had overtime, it was definitely taxed at a different rate (much like any bonus).

Of course, there may be a difference in “salaried” overtime and regularly houred overtime that i am unaware of.
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Same with me.

But I'm not sure if that's federal or state income tax that is a different rate, or both.
 
AnthonyI said:
Not here, is it State thing?
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I think we’re talking about withholding versus income tax at the end of the year.

Most working class individuals are concerned with the withholding from their pay check. Your overtime (at a federal level) will be taxed diffferently in withholding in an attempt to prevent you from owing when submitting your return.
 
Which is the real rub in all this. If they remove withholding from reported tips (which will probably result in more accurate tip reporting) and from overtime - it will almost certainly affect most people by them not receiving a refund and probably owing. This is not something most hourly workers are used to unless they have done substantial saving and asset diversification.
 
Nee Lewman said:
Which is the real rub in all this. If they remove withholding from reported tips (which will probably result in more accurate tip reporting) and from overtime - it will almost certainly affect most people by them not receiving a refund and probably owing. This is not something most hourly workers are used to unless they have done substantial saving and asset diversification.
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I think this was a big deal for casino workers here in Nevada.
 
I’ve also been thinking about this… which is worse that half of people who did vote voted the way they did or that a far greater number of Americans couldn’t be bothered to vote?
 
Nee Lewman said:
I think we’re talking about withholding versus income tax at the end of the year.

Most working class individuals are concerned with the withholding from their pay check. Your overtime (at a federal level) will be taxed diffferently in withholding in an attempt to prevent you from owing when submitting your return.
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I could have written this better. If I get a bonus, it's a separate check and yes, gets taxed at a higher rate, but, OT is calculated into your normal payroll and subsequently can push you into another tax bracket.....................as I understand all this. Either way, DJT isn't doing anyone any favors, it's still word salad.
 
AnthonyI said:
I could have written this better. If I get a bonus, it's a separate check and yes, gets taxed at a higher rate, but, OT is calculated into your normal payroll and subsequently can push you into another tax bracket.....................as I understand all this. Either way, DJT isn't doing anyone any favors, it's still word salad.
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Are you salaried or hourly?

So withholding on hourly, in my experience (noting I haven’t been hourly in over six years or employed this year, lol), shows a tax on all hours and then a separate tax on overtime hours. It really depends on how transparent your statement is to suss this out without a calculator. My last organization’s stubs were so transparent they were nigh impossible to understand. I spent a lot of time having to talk to payroll and explain things because of the various codes and lack of access to a solid key for staff. But it was very clear as you would receive a tax withholding on all of your hours and an additional tax withholding on just your overtime hours.

Our tax code is impossible to understand for most people. Most of the people I’ve worked with didn’t understand that the goal was to get the amount in your withholding to equal as close to a zero dollar return as it would benefit you more then getting a check at the end of the year.
 
Nee Lewman said:
Are you salaried or hourly?

So withholding on hourly, in my experience (noting I haven’t been hourly in over six years or employed this year, lol), shows a tax on all hours and then a separate tax on overtime hours. It really depends on how transparent your statement is to suss this out without a calculator. My last organization’s stubs were so transparent they were nigh impossible to understand. I spent a lot of time having to talk to payroll and explain things because of the various codes and lack of access to a solid key for staff. But it was very clear as you would receive a tax withholding on all of your hours and an additional tax withholding on just your overtime hours.

Our tax code is impossible to understand for most people. Most of the people I’ve worked with didn’t understand that the goal was to get the amount in your withholding to equal as close to a zero dollar return as it would benefit you more then getting a check at the end of the year.
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This is why I say good luck on him doing anything.

Every company has it's own "way", for instance, in my current job I'm salaried, I negotiate my salary for the year, but on my time card and so on it's being reported as hourly, so I call shenanigans on all parties involved, Federal, State, Local and employer.

I remember a year or so into my current job I was putting in some extra time because certain things needed to be taken care of, when it got excessive I brought up OT and was shot down. From that day forward, I'll put in a little extra if the shit hits the fan, otherwise I'm out the second my shift is over.

We got a lot of work to do.................but fear not, TRUMPS GONNA FIX EVERYTHING ;)
 
AnthonyI said:
This is why I say good luck on him doing anything.

Every company has it's own "way", for instance, in my current job I'm salaried, I negotiate my salary for the year, but on my time card and so on it's being reported as hourly, so I call shenanigans on all parties involved, Federal, State, Local and employer.

I remember a year or so into my current job I was putting in some extra time because certain things needed to be taken care of, when it got excessive I brought up OT and was shot down. From that day forward, I'll put in a little extra if the shit hits the fan, otherwise I'm out the second my shift is over.

We got a lot of work to do.................but fear not, TRUMPS GONNA FIX EVERYTHING ;)
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That sounds kind of illegal.

My wife doesn’t negotiate a salary but has to report her hours worked every pay period. I think that has more to do with the fact that 95% of her org’s staff is billable to clients.

I had to swipe in everyday to prove I was in the building. My last two managers were under the impression that this had to be done a certain amount of times to receive a full salaried paycheck (it did not, it did effect PTO accrual though. I knew this because we had a manager on our payroll who I never met, some kind of legal settlement situation, who never had any clocking but got paid regardless.)

I9 should dictate your withholding, not your company. Again, it all has to do with how transparent what they show you is.
 
Today is my day off so I decided to spend it with my Mom. She is spending the day with her work friends so I just joined them. We are all just drinking and processing the election. Idk this situation sucks but this made it suck a little less. This is the first time I’ve been able to actually talk and process things. Fuck this country but I feel alittle less alone rn
 
Hemotep said:
This is true. It's honestly probably worse than that now.
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I was in the Twin Cities over the summer with my best friend from college and his mom. She was a prof until retiring recently. She talked about how elementary schools moved away from teaching linguistics and started using pictures (?) to teach kids how to read. All because some publishing house claimed it would work better.

The results have been disastrous.
 
DownIsTheNewUp said:
I was in the Twin Cities over the summer with my best friend from college and his mom. She was a prof until retiring recently. She talked about how elementary schools moved away from teaching linguistics and started using pictures (?) to teach kids how to read. All because some publishing house claimed it would work better.

The results have been disastrous.
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And Americans don’t care because whether it is Project 2025 or Agenda 47, his platform is gut National Education.

At least NC didn’t elect the MAGA nut job running for schools here.
 
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