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re: “I’ll probably put my $1200 stimulus check in saving”
Posted on 4/14/20 at 6:33 am to RealityTiger
Posted on 4/14/20 at 6:33 am to RealityTiger
quote:At the end of the day all income is taxed in the same manner. You may get more taxes taken out of a check where you work OT, and it may seem like you're getting screwed, but when you file income taxes if you were taxed "too much" on those overtime checks, you will get a refund.
No. Explain. I’m curious?
Basically if you work overtime throughout the year and end up making 150k for the year, you are taxed the exact same as someone who just works straight salary and makes 150k for the year.
1
Posted on 4/14/20 at 8:23 am to Epic Cajun
Well if that's the case, why did I end up owing $942 with well over 500 hours of OT last year? I get what you're saying and trust your knowledge on it, but it still feels like an underhanded screw job.
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