2006-12-19 04:24:53 · 4 answers · asked by Richard V 1 in Business & Finance ➔ Careers & Employment
No. You are taxed on the aggregate of your gross pay less anything that can be excluded pretax. If you do have a lot of OT you may get pushed into a higher tax bracket and so a larger percentage may be taken out. Work the OT, pay the taxes and don't bother worrying about it as its a small difference in the grand scheme of things. Enjoy the extra money.
2006-12-19 04:34:53 · answer #1 · answered by John Galt 3 · 2⤊ 0⤋
I believe that, after 10 hours overtime you get taxed at a higher rate.
2006-12-19 04:37:24 · answer #2 · answered by oneamy2001 2 · 0⤊ 1⤋
Yup. The tax rate on overtime hours is higher than the tax rate on regular working hours. No idea why...it just is.
2006-12-19 04:32:08 · answer #3 · answered by sarge927 7 · 0⤊ 2⤋
No, should be the same as working regular hours!
2006-12-19 04:31:59 · answer #4 · answered by Anonymous · 2⤊ 0⤋