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Started By
Message
At what point does Overtime become not worth it in your eyes?
Posted on 9/19/13 at 1:56 pm
Posted on 9/19/13 at 1:56 pm
I'm saying you have a OT baller job, you get a substantial pay increase after 3:30 PM everyday, but when you are getting taxed 39%, do you kill youself for the bigger checks or do you find a # to shoot for, for best capital gains and lifestyle?
This post was edited on 9/19/13 at 2:02 pm
8
Posted on 9/19/13 at 1:58 pm to PropofoLSU
What an odd open ended question.
Posted on 9/19/13 at 2:02 pm to Teddy Ruxpin
How so?
I'm a salaried worker who gets paid bi weekly with a chance for 20 hours OT a week 80% of the time........
Problem is that 20 hours only changes my take home by about a 1000 bucks.
I'm a salaried worker who gets paid bi weekly with a chance for 20 hours OT a week 80% of the time........
Problem is that 20 hours only changes my take home by about a 1000 bucks.
Posted on 9/19/13 at 2:03 pm to PropofoLSU
quote:
but when you are getting taxed 39%, do you kill youself for the bigger checks
If you aren't making OT money and are getting taxed 25%, do you still kill yourself?
Isn't it relative?
Posted on 9/19/13 at 2:05 pm to jimbeam
I get your point but someone hypothetically making 140k vs someone making 70k means the OT is alot more important to the 70ker? Right?
This post was edited on 9/19/13 at 2:07 pm
Posted on 9/19/13 at 2:08 pm to PropofoLSU
nvm
This post was edited on 9/19/13 at 2:09 pm
Posted on 9/19/13 at 2:10 pm to PropofoLSU
quote:
Problem is that 20 hours only changes my take home by about a 1000 bucks.
Every pay period or every year?
ETA: [/sarcasm] just in case it wasn't obvious.
This post was edited on 9/19/13 at 2:11 pm
Posted on 9/19/13 at 2:10 pm to LNCHBOX
every pay period.
ETA: it wasn't
ETA: it wasn't
This post was edited on 9/19/13 at 2:12 pm
Posted on 9/19/13 at 2:12 pm to PropofoLSU
What is your family situation like? If you're single, then an extra $26,000 take home is pretty nice.
When are these hours? Only M-F?
When are these hours? Only M-F?
Posted on 9/19/13 at 2:28 pm to LNCHBOX
I have 1 kid who is almost 2 and another on way, wife stays home.......I was asking more relative to the tax bracket etc.......
M-F I'm a salaried worker until 3:30. After 3:30 I become OT worker.
Weekends I'm call pay which is same as OT pay.
Don't have to work but 1 weekend call shift a month.
M-F I'm a salaried worker until 3:30. After 3:30 I become OT worker.
Weekends I'm call pay which is same as OT pay.
Don't have to work but 1 weekend call shift a month.
This post was edited on 9/19/13 at 2:32 pm
Posted on 9/19/13 at 2:35 pm to PropofoLSU
quote:
I was asking more relative to the tax bracket et
does not change your bracket, once you hit a threshold you pay the higher tax on the money above that threshold only, regardless if it is OT, regular pay, or money from another job
Posted on 9/19/13 at 2:38 pm to Tigerpaw123
quote:
does not change your bracket, once you hit a threshold you pay the higher tax on the money above that threshold only, regardless if it is OT, regular pay, or money from another job
Thanks I didn't realize that.
Posted on 9/19/13 at 2:41 pm to PropofoLSU
Exactly. So make it while you can.
Posted on 9/19/13 at 2:42 pm to PropofoLSU
What kind of OT baller job gets paid overtime?
Posted on 9/19/13 at 2:45 pm to PropofoLSU
so i guess it becomes quality of life, if working the overtime means you have to miss your kids T ball game and you dont really need the money screw it, but if you are just going to be home posting on TD, I would rather be making the $100 / hour, just have to weigh your options and let the taxes play themselves out, work with your CPA to make sure you are you are not leaving any deductions or credits on the table
Posted on 9/19/13 at 3:14 pm to Tigerpaw123
quote:
let the taxes play themselves out
Yea, it doesn't make sense to leave money on the table because it'll be taxed, IMO. Maybe it would be different if your entire income was taxed at 39% vs 33%, but since only the amount you make over the 33% threshold is taxed at 39%, then you should defintiely make all the money you can.
Now, if you're talking quality of life issues, like spending time with kids, family, etc., then that's a different story. But, I wouldn't ever not take OT because of the taxes.
Posted on 9/19/13 at 3:37 pm to PropofoLSU
I would lower my taxable income. If that is not an option I would make the decision based on where I consider where my quality of life takes a hit. Working 50hrs a week is doable without sacrificing much of a home life, especially if you can telecommute 1 or 2 days a week. Flex scheduling is also a nice option.
Posted on 9/19/13 at 3:37 pm to PropofoLSU
The problem is with your company's payroll software, it looks at your 2 week check and assumes you will make that amount every take so it will withhold at a higher rate
Posted on 9/19/13 at 3:40 pm to HeadyMurphey
quote:
What kind of OT baller job gets paid overtime?
Plant operator of course.
Posted on 9/19/13 at 3:57 pm to yellowfin
quote:
The problem is with your company's payroll software, it looks at your 2 week check and assumes you will make that amount every take so it will withhold at a higher rate
This
but in all reality it washes out at the end of the year, if you get too big of a refund or owe too much, make changes in with holdings to account for the spikes in pay (and with holdings) with OT
In other words, don't look at the "take home pay" each period to make your decision of it being worth while
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