 Where can I complain about a store that I know doesnt pay tax? |
| I know of a store manager that doesnt pay tax. how do I complain to the IRS and get him busted?... |
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 Is the day coming when the Government just allows us pocket money? (UK)? |
So much income goes in tax and overheads it could be easier for them to take the lot and give us our spending money!!
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| I filed my taxes on the 3rd of April. How long does it normally take for the check to get to me?... |
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| I am 21 years old and have never filed taxes before. I've had a number of jobs in atleast 3 different states, over the past 3 years. Also on my 18th birthday I received an inheritance of more ... |
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 Can I have my employer put my paycheck in my spouses name? |
Can I have my employer put my paycheck in my spouses name?
Additional Details
No not trying to avoid child support or back taxes..... spouse has no verifiable income and thought maybe if ... |
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 Do businesses REALLY pay taxes? |
| If you own a business you want to be able to make a profit. This is a good thing. It feeds the owners family and all the people who work for that company. Great thing. SO.. if the cost of something ... |
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 Do I have to pay federal tax this year on my state refund from last year? |
Additional Details
If I do doesn't that mean that I'm being taxed twice on my yearly earnings from 2006?... |
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 Can my daugher claim her daugher for eic if i claimed it for my daugter? |
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Fiostic | Do more taxes come out of overtime hours? |
I work for a communications company and everyone claims that over-time and double-time hours are taxed at higher rates? I have never taken the time to sit down and run the numbers, so I decided to just throw it out there.
Thanks |
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src50
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No. Your taxes are computed based on total income for the year. It doesn't matter how many hours were straight time and how many were overtime.
They may be referring to how much is WITHHELD for taxes. That's different. |
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blueeee
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Yeah it should be the same. All you will be doing is making more money so you will be paying more taxes. |
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curmudgeon
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should be the same percentage |
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Judy1
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Not really. Withholding for that paycheck might be higher since taxes are withheld as if you made that same amount every pay period all year. But at the end of the year, pay for regular hours and overtime hours is all lumped together - your W-2 and therefore your tax return don't break them out. If too much was withheld, you'll get it refunded to you. |
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nicknameyo
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Unless they bump you into the next tax bracket, they should be taxed at the same rate as your regular hours. All of your pay goes into ordinary income.
However, the tax is higher on them since you are paid more per hour for overtime.
Hope that clears everything up. If not, talk to your payroll department. |
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Flying High
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The more you make the more they take. The tax percentage is all the same though. |
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Dennis Fargo
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They are probably right but the only true way is to crunch the numbers. OT can push you into the next tax bracket. It can be a good problem to have. |
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williamdp
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It appears so, here is why
when you earn say $200 a week,
This is only an example, I don't really know the exact numbers but this is how the math is done,
The first $50 is not taxed, then 51-150 is taxed at 15%
then 151-200 is taxed at 25%. Again these numbers are not exact but what I am showing, the lower your pay the smaller the percent,
So when you add on overtime, all that money is earned above the $200 dollars and so it is all taxed at your higher tax rate.
The higher rate probably kicks in around $1000 and not 200 a week. I know that anytime I get an overtime check, they tax the entire amt at 25%.
You can asked your payroll clerk to explain how yours is done exactly. |
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