Any "Latest & Greatest" about Endeavor?
11-26-2016 | 05:58 PM
#8622
Gets Weekends Off
Joined: Oct 2008
Posts: 177
Likes: 0
From: CRJ-700
January, May, September. Advertised as 25% federal income tax, but What's not included is social security, fica, Medicare and in NYC also NY State and NYC tax. I had 47% income tax taken out of the last bonus.
11-26-2016 | 06:38 PM
#8624
Gets Weekends Off
Joined: Sep 2006
Posts: 2,613
Likes: 8
From: Bus driver
At the end of the year, yes, it's all taxed by you applicable rules, but you either need to be good at math for the W-4; (meaning you know what you will earn, and if joint, what your significant other will earn) or expect a refund OR owe more depending on your tax bracket. It's a flat 25% federal, then the rest (state, fica, ss, alpa, etc), and 401k if you so choose. Everyone's tax situation is different but the bonus requires some math, especially if you pick up often or have another variable that makes the W-4 a moving target for 24 regular checks.
At the end of the year it all lines up, but can be a bit skewed by individual bonus check.
"I was told there would be no math"
11-26-2016 | 07:00 PM
#8625
Gets Weekends Off
Joined: Jan 2011
Posts: 241
Likes: 0
From: AT802
And alpa, and if you put any in the 401k....
At the end of the year, yes, it's all taxed by you applicable rules, but you either need to be good at math for the W-4; (meaning you know what you will earn, and if joint, what your significant other will earn) or expect a refund OR owe more depending on your tax bracket. It's a flat 25% federal, then the rest (state, fica, ss, alpa, etc), and 401k if you so choose. Everyone's tax situation is different but the bonus requires some math, especially if you pick up often or have another variable that makes the W-4 a moving target for 24 regular checks.
At the end of the year it all lines up, but can be a bit skewed by individual bonus check.
"I was told there would be no math"
At the end of the year, yes, it's all taxed by you applicable rules, but you either need to be good at math for the W-4; (meaning you know what you will earn, and if joint, what your significant other will earn) or expect a refund OR owe more depending on your tax bracket. It's a flat 25% federal, then the rest (state, fica, ss, alpa, etc), and 401k if you so choose. Everyone's tax situation is different but the bonus requires some math, especially if you pick up often or have another variable that makes the W-4 a moving target for 24 regular checks.
At the end of the year it all lines up, but can be a bit skewed by individual bonus check.
"I was told there would be no math"
That always messes everything up, the no math part....
Sent from my iPhone using Tapatalk
11-26-2016 | 07:14 PM
#8626
Gets Weekends Off
Joined: Apr 2014
Posts: 163
Likes: 0
And alpa, and if you put any in the 401k....
At the end of the year, yes, it's all taxed by you applicable rules, but you either need to be good at math for the W-4; (meaning you know what you will earn, and if joint, what your significant other will earn) or expect a refund OR owe more depending on your tax bracket. It's a flat 25% federal, then the rest (state, fica, ss, alpa, etc), and 401k if you so choose. Everyone's tax situation is different but the bonus requires some math, especially if you pick up often or have another variable that makes the W-4 a moving target for 24 regular checks.
At the end of the year it all lines up, but can be a bit skewed by individual bonus check.
"I was told there would be no math"
At the end of the year, yes, it's all taxed by you applicable rules, but you either need to be good at math for the W-4; (meaning you know what you will earn, and if joint, what your significant other will earn) or expect a refund OR owe more depending on your tax bracket. It's a flat 25% federal, then the rest (state, fica, ss, alpa, etc), and 401k if you so choose. Everyone's tax situation is different but the bonus requires some math, especially if you pick up often or have another variable that makes the W-4 a moving target for 24 regular checks.
At the end of the year it all lines up, but can be a bit skewed by individual bonus check.
"I was told there would be no math"
To clarify this once again for everybody, the bonus payments are WITHHELD at 25% federal due to the way they are viewed by tax law. However you ultimately pay federal tax on it at whatever your rate is for your income bracket. For most of us that means much of that 25% will ultimately be returned to you. So in short it is a misnomer, or at a minimum a cause of confusion to refer to the bonus as "taxed at 25%".
11-26-2016 | 07:18 PM
#8627
Gets Weekends Off
Joined: Apr 2014
Posts: 163
Likes: 0
Not gonna lie, that COULD change everything. From everything I've heard (which is admittedly from mostly here say and other pilots), AK ran the show over there and is so proud of his little fiefdom that he has been the biggest hurdle to any kind of meaningful career progression agreement. Who knows, a change there, coupled with a few other outside forces could have drastic and far reaching implications.
If it's true, I wish him well in his retirement!
If it's true, I wish him well in his retirement!
11-26-2016 | 07:38 PM
#8628
Gets Weekends Off
Joined: Feb 2016
Posts: 1,237
Likes: 0
Not gonna lie, that COULD change everything. From everything I've heard (which is admittedly from mostly here say and other pilots), AK ran the show over there and is so proud of his little fiefdom that he has been the biggest hurdle to any kind of meaningful career progression agreement. Who knows, a change there, coupled with a few other outside forces could have drastic and far reaching implications.
If it's true, I wish him well in his retirement!
If it's true, I wish him well in his retirement!
11-26-2016 | 09:29 PM
#8630
Gets Weekends Off
Joined: Jul 2010
Posts: 12,833
Likes: 172
From: window seat
Thread
Thread Starter
Forum
Replies
Last Post
