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/biz/ - Business & Finance

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1205436 No.1205436 [Reply] [Original]

I live in the USA and make $32,000/year. I see taxes are 15% under $37,000, then it jumps to 25% if I make over $37,000.

Is there a point to making $37k/year if I am going to be taking less home? Like if I stay at $36k/year unless I am offered $45k+ a year.

I'm not super smart when it comes to taxes and stuff, but it seems like there is a zone where being paid slightly more will lead to me actually taking home less. Is this right?

>I don't know what I am doing and am a colossal faggot.

>> No.1205439

>>1205436
Depends how many deductions you have.

>> No.1205442

>>1205439
I'm a single white male. No kids. Live in Maine. Getting married soon, and she makes the same amount.

>> No.1205445

You won't have less take home. You pay 10% on the first $9225, 15% on the portion from $9226 to $37,450 and 25% on the portion from $37,451 to $90,750.

So if you make $38,000 you pay 25% on just $550.

>> No.1205448

>>1205436
No, it's marginal like this anon said.
>>1205445

Also, deductions can add up to ALOT. My family personally gets like half their income deducted b/c house and lots of kids.

Only paid like 3K taxes on 80k income last year.

>> No.1205460
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1205460

>>1205445
>You pay 10% on the first $9225, 15% on the portion from $9226 to $37,450 and 25% on the portion from $37,451 to $90,750.
Whew! Good

>>1205448
Alright, very nice!


Thanks guys, that's pretty much all I needed to know.