tax prep
On Fri, 15 Jun 2012 17:04:00 -0400, Gary > wrote:
>
>Also, maybe more what you are talking about - whenever working overtime, you
>really do get less net pay for those extra hours (as compared to the regular
>40). I suspect the overtime really is taxed higher only because they might
>assume you're getting time and a half?
Yes, the tax table is assuming you make that much money every week and
deductions are taken accordingly. If (an exaggeration) you worked 40
hours OT you'd get equal to 100 hours at your regular rate for the
week. At the end of the year though, total wages are taxed at the
proper rate. You get that money back.
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