Posted by K Effective on August 31, 2017 at 11:04:53 from (162.235.236.141):
In Reply to: Tax question posted by Hay hay hay on August 31, 2017 at 09:02:59:
We have certain days in our work schedule that are paid as double-time when covering OT with another crew, as compared with the usual time-and-a-half. Most of those days kinda need an incentive to make them more palatable, like switching to cover a day shift after working nights, or breaking up the traditional weekend.
I have had guys say they will not take a double day, as the taxes even out the net income. Supposedly, IF you have a large bi-weekly pay gross amount, the employer is required to collect taxes at a higher rate than if you worked fewer hours, and that rate is applied to all the hours for that pay period, not just the double-pay day.
My contention is that may well be true, and some folks may well be right on the edge of stepping up to the next tax bracket by being paid for an extra six hours on one day, but that every other pay period is then judged on it's own total. AND, the total tax liability for the year is calculated on the annual adjusted gross, not your highest single pay period, so you will get the "extra" taxes back in a refund or reduced amount owed.
Maybe I'm just too trusting, or these guys are too short-sighted, but I'll take every one of those days I can get, and the straight-time and time-and-a-half days as well. Grandpa always said that a bigger tax bill was a good sign.
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