Originally Posted by
Tpinks
Getting a raise and being pushed into a higher tax bracket doesn’t reduce your net pay. The higher tax rate only applies to the AGI you make above that amount.
$2000/70=$28.57 previous non-taxed income
$211-$174=$37 increase overall
37-28.57=8.43 actual increase
8.43*70= $590 monthly increase in net pay.
this was hardly a raise. That 590 pushed me into new brackets so I’m netting less than pre raise.
I literally did the math and from federal taxes alone, this will cause a net reduction of $2500 for my take home pay for the year. With state taxes it will be even higher.[/QUOTE]
Maybe I’m missing something but it looks to me like the new pay is on par with other LCCs on the CA side and as for the FO side it’s more than everyone else, even WN until you hit year 4. Why are you complaining about tax brackets?