That was something obama was trying to do, count that as income. But as of right now it is not taxable incomeSerious question out of my own ignorance. I've never worked for a company that provided health insurance. Does the employee pay income tax on the amount the company pays for them?
I have paid over 50k already in taxes. Thats everything by the way not just federal. I almost 4x times my income with OT.That part. Its really funny to me.
I've never heard of bonuses based on how much you cost the company. Usually bonuses are based on how much you make for or save the company.Another thought i had..... so we get bonuses and that is calculated with OT included. Hmmm should that be taxed???
You're not very familiar with unions.I take it? So it's called profit sharing really. So they take our earnings per share for the year, plug that into some equation with safety numbers, And some other metrics to get a percentage For the bonus. Then they take whatever you grossed last year and use that percentage as your bonus. It was like 10.6% percent last year. Hell there were some guys that got over fifty thousand dollar bonus because they made a half million dollars.I've never heard of bonuses based on how much you cost the company. Usually bonuses are based on how much you make for or save the company.
It should be, then YOU should get 100% deduction for the insurance you purchase. That would at least get employers out of healthcare…That was something obama was trying to do, count that as income. But as of right now it is not taxable income
Okay, well as you said, that's really profit sharing and not a "bonus", at least not in the traditional sense. For example, if you produced way over your quota of widgets (which the union would never allow), then the company would pay you a bonus for increased productivity. Or if you made a process improvement that saved the company money, then the company might pay you a bonus based on that.You're not very familiar with unions.I take it? So it's called profit sharing really. So they take our earnings per share for the year, plug that into some equation with safety numbers, And some other metrics to get a percentage For the bonus. Then they take whatever you grossed last year and use that percentage as your bonus. It was like 10.6% percent last year. Hell there were some guys that got over fifty thousand dollar bonus because they made a half million dollars.
Yeah that’s really high. That’s my marginal tax rate.And don't forget bonuses are taxed at a flat 22%, not factored with marginal rates.
That is your top marginal rate for income between $47,151 to $100,525. Everything under $47K is taxed at 10%-12%. Bonuses are a flat 22% on the whole thing.Yeah that’s really high. That’s my marginal tax rate.
Not when it is thrown in with your regular earnings unfortunately. Our company doesn't split them. I even did the math.And don't forget bonuses are taxed at a flat 22%, not factored with marginal rates.
Yeah. That's why my 401k Contribution rate on my bonus is 100%.That is your top marginal rate for income between $47,151 to $100,525. Everything under $47K is taxed at 10%-12%. Bonuses are a flat 22% on the whole thing.
Why should someone working 50% harder than average subsidize your existence?Why should someone getting likely 1.5X their normal rate receive welfare?
I think if your goal is to crash Social Security and Medicare, this is a good start.So i think this is pandering to compete with comi-la! What you all think???
I understand, nothing wrong with that!!I have paid over 50k already in taxes. Thats everything by the way not just federal. I almost 4x times my income with OT.
FIFY... Working more hours =/= "working harder" necessarily.Why should someone working50% hardermore hours than average subsidize your existence?