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 LayYouIn
Slow down and grill.
 
Registered: 09/28/06
Posts: 3,749
Loc: Organ
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 Overtime Pay
#8215753 - 03/30/08 06:14 PM (8 months, 1 day ago) |
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people i work with say that overtime pay isn't worth it because they have to pay so much in taxes. they say that they lose money. 
is this true?
would it be better to get a second job that pays the same amount and not work overtime at either jobs?
will i get a more than usual tax return if i've never really worked much overtime?
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http://www.doctorfungus.org
http://www.mushroomexpert.com/
http://www.textbookofbacteriology.net
http://bugs.bio.usyd.edu.au/Mycology/
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drkrobotnik
lurk moar.
Registered: 04/06/06
Posts: 3,939
Loc: tx
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 Re: Overtime Pay [Re: LayYouIn]
#8215786 - 03/30/08 06:25 PM (8 months, 1 day ago) |
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no.
i'd be like saying it's not worth getting a better job that pays 1.5 times as much because you have to pay more taxes.
wtf.
overtime is worth it if your company doesn't mind giving it out. most companies are stingy with it.
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LayYouIn
Slow down and grill.
Registered: 09/28/06
Posts: 3,749
Loc: Organ
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that's what i was thinking. why do you think my co-workers would say this? the ones that say that are all older...like in their 40's maybe early 50's.
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http://www.doctorfungus.org
http://www.mushroomexpert.com/
http://www.textbookofbacteriology.net
http://bugs.bio.usyd.edu.au/Mycology/
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drkrobotnik
lurk moar.
Registered: 04/06/06
Posts: 3,939
Loc: tx
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Re: Overtime Pay [Re: LayYouIn]
#8215878 - 03/30/08 06:43 PM (8 months, 1 day ago) |
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either because they are your boss and dont want to pay you overtime or ignorant.
or i could be totally wrong.
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LayYouIn
Slow down and grill.
Registered: 09/28/06
Posts: 3,749
Loc: Organ
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they are at the same level as me.
the majority of people that work here, dont want to work overtime and constantly complain about it. i sign up for as much as i can get and so does this other guy. we are working 64 hours a week.
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http://www.doctorfungus.org
http://www.mushroomexpert.com/
http://www.textbookofbacteriology.net
http://bugs.bio.usyd.edu.au/Mycology/
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drkrobotnik
lurk moar.
Registered: 04/06/06
Posts: 3,939
Loc: tx
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Re: Overtime Pay [Re: LayYouIn]
#8215907 - 03/30/08 06:51 PM (8 months, 1 day ago) |
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you should ask for raise/promotion bro they will see that you are a hard worker and recognize that shit.
be like 'everyone else is a lazy fuck lemme run this shit'
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Veritas
Registered: 04/15/05
Posts: 10,379
Loc: PNW
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Re: Overtime Pay [Re: LayYouIn]
#8217224 - 03/30/08 10:50 PM (8 months, 1 day ago) |
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It would really depend upon your tax bracket. If you were close to the line between brackets, then working overtime could result in paying more taxes. Here's the 2007 tax schedule for Single filers:
$0-$7,825 10% of the amount over $0
$7,825-$31,850 $782 +15% of the amt over 7,825
$31,850-$77,100 $4,386 +25% of the amt over 31,850
$77,100-$160,850 $15,698 +28% of the amt over 77,100
$160,850-$349,700 $39,148 +33% of the amt over 160,850
$349,700-no limit $101,469 +35% of the amt over 349,700
Getting a second job would not make a difference, as your taxable income would be increased either way.
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No man is free who is not master of himself.
~Epictetus.
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drkrobotnik
lurk moar.
Registered: 04/06/06
Posts: 3,939
Loc: tx
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Re: Overtime Pay [Re: Veritas]
#8217274 - 03/30/08 10:58 PM (8 months, 1 day ago) |
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werd.
damn dude that doesn't really push me to achieve right there.
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 moon_glue
Orwell's Post9/11 Era
Registered: 01/20/07
Posts: 2,041
Loc: Earth, today...
Last seen: 2 days, 22 hours
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you will make more money. but is it worth it to give up anymore of your hours in life at a few bucks a pop? working will distract you from every other fullfilling act to being alive and make it harder to experience the sensation and interpertation of life itself.
don't do it. downgrade your lifestyle or time becomes an enemy. this is being protested around the world as western work ethic is being internationally excepted.
do nothing. study pyschology
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-::- Moonglue's Mushroom Tea -::-Moonglue's Cannabis Chocolate Peanutbutter Toasties-::-
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moon_glue
Orwell's Post9/11 Era
Registered: 01/20/07
Posts: 2,041
Loc: Earth, today...
Last seen: 2 days, 22 hours
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Re: Overtime Pay [Re: moon_glue]
#8218995 - 03/31/08 11:28 AM (8 months, 22 hours ago) |
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ps... i quit my job to focus on school. i started making wine to sell and get by. i even have extra money to put gold and silver into my safe every month.
i have spare time to drink some of my wines on the porch and play guitar. and work on my gardens. i live with my parents so i dont have any real payments. i have lived on my own and i have been homeless. i highly prefer being homeless.
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-::- Moonglue's Mushroom Tea -::-Moonglue's Cannabis Chocolate Peanutbutter Toasties-::-
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eversuffer
Stranger
Registered: 03/03/08
Posts: 20
Loc: NWI - shitville
Last seen: 3 months, 25 days
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Re: Overtime Pay [Re: moon_glue]
#8219619 - 03/31/08 02:06 PM (8 months, 19 hours ago) |
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you wont actually be LOSING money when you work overtime, but there is more tax. a check with over time will still be larger than a check without but you wont be making as much an hour the more ot you put in. i think it is either 8 hours a week or 8 hours a pay period that is the limit befor the tax increase.
i have a job where i used to work 60-70 hours a week, that was some sweet overtime, but the company took it away. if you can get it, i say do it. you wont actually lose money but you won't exactly be making 1.5/hour either
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WE ARE ETERNAL, ALL THIS PAIN IS AN ILLUSION!!
I'M NOT A STALKER... I JUST OBSESSIVELY FOLLOW! 
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eversuffer
Stranger
Registered: 03/03/08
Posts: 20
Loc: NWI - shitville
Last seen: 3 months, 25 days
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Re: Overtime Pay [Re: moon_glue]
#8219635 - 03/31/08 02:08 PM (8 months, 19 hours ago) |
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Quote:
moon_glue said:
you will make more money. but is it worth it to give up anymore of your hours in life at a few bucks a pop? working will distract you from every other fullfilling act to being alive and make it harder to experience the sensation and interpertation of life itself.
don't do it. downgrade your lifestyle or time becomes an enemy. this is being protested around the world as western work ethic is being internationally excepted.
do nothing. study pyschology
i totally agree, but for me i have bills, a kid, and no family to help me. i work cuz it's neccesary not cuz i want to
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WE ARE ETERNAL, ALL THIS PAIN IS AN ILLUSION!!
I'M NOT A STALKER... I JUST OBSESSIVELY FOLLOW!
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fireworks_god
Sexy ButtMcDanger
Registered: 03/12/02
Posts: 20,453
Loc: red panda village
Last seen: 21 hours, 2 minutes
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Re: Overtime Pay [Re: moon_glue]
#8219843 - 03/31/08 02:54 PM (8 months, 19 hours ago) |
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Quote:
moon_glue said:
but is it worth it to give up anymore of your hours in life at a few bucks a pop? working will distract you from every other fullfilling act to being alive and make it harder to experience the sensation and interpertation of life itself.
don't do it. downgrade your lifestyle or time becomes an enemy. this is being protested around the world as western work ethic is being internationally excepted.
So, you know nothing about the person you are replying to, their financial situation, or their overall plans and goals in life, and you are telling them to not work overtime? 
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Meet me in outer space
We could spend the night;
watch the earth come up 
I've grown tired of that place;
won't you come with me?
We could start again.
 
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LayYouIn
Slow down and grill.
Registered: 09/28/06
Posts: 3,749
Loc: Organ
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Quote:
moon_glue said:
you will make more money. but is it worth it to give up anymore of your hours in life at a few bucks a pop? working will distract you from every other fullfilling act to being alive and make it harder to experience the sensation and interpertation of life itself.
don't do it. downgrade your lifestyle or time becomes an enemy. this is being protested around the world as western work ethic is being internationally excepted.
do nothing. study pyschology
haha, i worked part-time for a year, grew mushrooms, and to tell you the truth, not only did i get behind, but i also got bored.
im playing catch up and i dont mind it...if im not working the over time days, ill be sitting around thinking about how id like to save more money for a car and i will regret not working them.
also, i wont do this for a long time, but im hoping to do it for the next two or three months.
Quote:
eversuffer said:
you wont actually lose money but you won't exactly be making 1.5/hour either
i will be making at least when i normally get paid, right?
im doing this as an alternative to getting another job.
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http://www.doctorfungus.org
http://www.mushroomexpert.com/
http://www.textbookofbacteriology.net
http://bugs.bio.usyd.edu.au/Mycology/
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eversuffer
Stranger
Registered: 03/03/08
Posts: 20
Loc: NWI - shitville
Last seen: 3 months, 25 days
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Re: Overtime Pay [Re: LayYouIn]
#8222372 - 03/31/08 10:58 PM (8 months, 11 hours ago) |
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Quote:
i will be making at least when i normally get paid, right?
im doing this as an alternative to getting another job.
well you'll be making 1.5 Xs the pay, but after tax it's a little less..... so you'll be making more money.
try it out for a while, see if you like it, see if it's worth it. for me it always was. being able to live comfortly vs. a strict budget. for you it seems you'll have extra cash and the extra time at work will keep you from spending it which will help with your car. i've worked 2 and 3 jobs at a time before and i'd much rather work ot than to go thru that shit again.
most importantly, find out what is right for you and go with that
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WE ARE ETERNAL, ALL THIS PAIN IS AN ILLUSION!!
I'M NOT A STALKER... I JUST OBSESSIVELY FOLLOW!
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Madtowntripper
Sun-Beams out of Cucumbers
Registered: 03/06/03
Posts: 13,991
Last seen: 3 hours, 11 minutes
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Re: Overtime Pay [Re: LayYouIn]
#8222424 - 03/31/08 11:11 PM (8 months, 10 hours ago) |
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I love overtime.
I make a touch over $20/hour and my company has to pay me double-time if they call me in when I'm not scheduled which, with this weather (I work at an airport) is pretty often.
I love it.
I don't see how I would be losing money on this deal.
That's ridiculous.
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Seuss
Error: divide byzero
Registered: 04/27/01
Posts: 16,838
Loc: Caribbean
Last seen: 2 hours, 53 minutes
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> I don't see how I would be losing money on this deal.
If you make just enough money to push you into the higher tax bracket, you can end up with less money overall after taxes than if you had given up the few dollars to remain in the lower tax bracket.
For example, say you made $7820 for the year. You would owe 10%, or $782 in tax, thus your take would be $7038. However, if you made $7830 for the year (an increase of $10) you would owe 15% tax, or $1174.50. This would leave you with $6655.50 for the year. By bringing in an extra $10 in salary over the year, you actually lost $382.50 at the end of the year because of taxes (due to being at the low end of a higher tax bracket rather than being at the high end of a lower tax bracket).
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Madtowntripper
Sun-Beams out of Cucumbers
Registered: 03/06/03
Posts: 13,991
Last seen: 3 hours, 11 minutes
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Re: Overtime Pay [Re: Seuss]
#8223189 - 04/01/08 06:32 AM (8 months, 3 hours ago) |
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If I only made 7,820 for the year I would have bigger things to worry about than my tax bracket!
I get your point, though.
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fireworks_god
Sexy ButtMcDanger
Registered: 03/12/02
Posts: 20,453
Loc: red panda village
Last seen: 21 hours, 2 minutes
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Quote:
Madtowntripper said:
(I work at an airport)
I knew you were insane; now I have proof. 
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Meet me in outer space
We could spend the night;
watch the earth come up
I've grown tired of that place;
won't you come with me?
We could start again.
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Madtowntripper
Sun-Beams out of Cucumbers
Registered: 03/06/03
Posts: 13,991
Last seen: 3 hours, 11 minutes
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How does that make me crazy?
Besides the fact that this is Wisconsin and I've spent the last five months at the top of a 50-foot boom in the -40 degree temps and 75 mph winds spraying down airplanes with hazardous chemicals, most of which are being blown back onto my face?
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