February 24, 2009
Overtime Taxes.
I'll be working overtime a whole bunch for the next few weeks. I am drawn in by the idea of time and a half, and need the cash for a down-payment. I got to thinking; "I wonder just how much I'll get after taxes..." Turns out, probably not a lot."The payoff for overtime work appears to be a very good deal for the employee. But here's some unpleasant news. Thanks to the rising burden of taxes, the bonus income actually received from working longer hours is much less than one might think."
Check out the article here: Working Overtime Is More Taxing Than You Think
If I make 350 bucks for 8 hours, I'll probably see about $200 of that. Kind of lame.
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