re: First time ever I got a second job.

Why all the face palms?

Clearly a lot of you guys can't read or have trouble comprehending...

Example:

Guys is making $35k as salary and is taxed at 15%

He takes on a part time gig, hourly to make another 15k. Pretty much all of that additional 15k is taxed at 25% now, and it's likely at a less rate of pay than his salary, meaning he's pretty much always working.. Just saying, it may not be worth the time. Sometimes you're better off putting in the extra hours at your full time job to advance your career.

I've been working two jobs for 5 years.........full time CRNA and 1099 Clinical Consultant for a staffing agency in California.

The second job is a knife in my back sometimes because of the consistency of transparency I have to have with them in addition to the full time gig, but nothing beats 75 bucks an hour to answer a phone.

Welcome to the hussle.

quote:

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Guys is making $35k as salary and is taxed at 15%

He takes on a part time gig, hourly to make another 15k. Pretty much all of that additional 15k is taxed at 25% now, and it's likely at a less rate of pay than his salary, meaning he's pretty much always working.. Just saying, it may not be worth the time. Sometimes you're better off putting in the extra hours at your full time job to advance your career.

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So you think the guy is better off with a net of $29,750(not considering tax deductions) then $41,000? Yeah that extra $1,500 in taxes due to rate increase is really not worth the extra $11,250 in net income.....

To determine your tax rate, take your total income and subtract your standard deduction and personal exemption(s), that is your taxable income. The first $18150 is at 10%,income from 18150 to 73800 is at 15%, from 73800 to 148850 is at 25%. If your taxable is at 85000 for instance, you pay 1850 on the first bracket and 10027 on the next bracket for a total of 11877. Go online and you can get the other rates(these are 2014 as I recall). This is a rule of thumb. If you itemize it will not be that simple. If your income is over 73800, get a CPA, it is money well spent.