LogFAQs > #979402099

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Topic	"I refused a raise because I'd go up to a new tax bracket"
LonelyStoner 03/16/24 3:01:35 PM #14:	RetuenOfDevsman posted... FTR, if anyone doesn't know, the tax brackets apply to each dollar. So your first dollar is only taxed at the rate of the first bracket. You only start paying at the rate of the next bracket with the dollar that passes the threshold. What this means is you'll never end up taking home less by getting a raise. I might need this explained like Im 5. --- He's all alone through the day and night. <cite>LonelyStoner posted [p:979402099] in "I refused... [t:80723134]...</cite> <quote>RetuenOfDevsman posted... </cite><quote>FTR, if anyone doesn't know, the tax brackets apply to each dollar.So your first dollar is only taxed at the rate of the first bracket. You only start paying at the rate of the next bracket with the dollar that passes the threshold.What this means is you'll never end up taking home less by getting a raise.</quote>I might need this explained like Im 5. --- He's all alone through the day and night.</quote> ... Copied to Clipboard!
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