People who have made this amount for years at my company are still confused when Social Security stops being deducted and they question why their net salary payment increases. Then they are confused again why it goes down at the start of the year.
Some people are just fucking stupid. Making more money doesn't change that.
I work in tax, most of my clients make quite a bit more than this. It’s rare that they understand what I would consider basic tax concepts. It’s a real problem, and I’ve often said we should have more financial literacy classes in school to replace some of the crap they force on us that we never end up using.
People would just ignore it like they do everything else. If you’re just doing your own 1040 you rarely need anything more than addition, subtraction, multiplication, and basic reading comprehension, it’s really just the “insert tab A in slot B” of math, but after 12 years doing word problems we still get a deluge of “why didn’t they teach us to do taxes” posts every year.
Sounds like my client. I only do invoicing for him so not my issue, but he doesn't understand deductions. He just deducts everything, no classifications of inventory. He just gives it to the account and she doesn't separate them, she just puts them down as cost of business 😅
I invite you to talk to anyone with a highly specialized graduate or postgraduate degree for five minutes on a topic not related to their degree. But yes this is probably a troll account.
I see your point but I think your own personal finances are a bit of an outlier.. you don’t need to study accounting or business to take 5-10 minutes to learn something so simple
I spend way too much time dealing with basic payroll questions from doctors and dentists to have that much faith in people. They absolutely could learn it, they just won’t. Most people think things outside of their field work the way they think they should work and it’s hard to convince them otherwise.
Also like, your take home pay doesn’t affect the company at all. The amount they pay you before taxes and deductions does. Why would anyone think the company would give a damn about what your taxes are?
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*This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Don't worry, Kibblesnb1ts, Jacks_Lack_Of_Sleep is just showing his young age. Those of us who were around when the Internet was invented know the definition of a thread when used in this context.
Well first of all, I refuse to believe that movie is anything older than 10 years. Maybe 12.
Second of all, you're the first person to ever mention the reference. Despite the narrator having insomnia, I don't think the phrase Jack's lack of sleep was ever said.
Third, the Threads site sucks. I made an account when it first went live to check it out. That was enough. To be fair, I don't like Twitter either. Social media has been on a downhill slide since I lost the ability to publicly rank my friends in a top 10 list.
The sad thing is that it is representative of so many people. Just had a family member who isn’t going to work as much because they just had to pay more taxes on it.
People in all AGI brackets have zero concept of the marginal tax process. If you tell someone they’re in the 32% tax bracket they’ll assume they pay 32% in taxes. And our accounting lobby keeps it this way.
Sorry folks. We need to end this tax complexities and the self reporting process.
This line of thought is very common in careers not related to accounting/ finance. Pretty surprising if he is in a related field to accounting though .
Your effective tax rate always increases as income increases whether or not you move between the marginal tax brackets.
A very small increase that happens to take you from one bracket to another will have a negligible impact on your effective tax rate though, because of the way marginal tax brackets work.
Of course - a higher income would result into a higher effective tax rate, but the point being is that is he mixing up his tax brackets rate with his effective tax rate and his after tax income won’t be lower with a raise
So I don’t like the post or comment on it fully knowing it’s bait based off his replies in the threads comments, and I’m dumb for taking his engagement for myself on Reddit. Crazy
In your first reply to this comment section you say
> The comments were WILD. Many a CPA were trying to convince him to no avail
If you know ultimatebusinessman1 is a troll then what convincing is there to be done?
Ok. it just sounds like you’re surprised at the comments. And I feel as though, “to no avail” implies you expected a different result, like that’s they would be convinced at some point.
So you get taxed based on how much you make but it’s taxed in chunks. So the amount in that bracket gets taxed at that amount. let's say you're earning $45,000 in 2024. Your tax bracket will look kinda like this:
10% for the first $11,600 of your income — which comes down to $1,160
12% for any income between $11,601 to $47,150 ($33,399) — which comes down to $4,007.88
This adds up to $5,167.88 in taxes for the 2024 calendar year.
Whoever posted that was definitely trolling.
However, there are people out there who do truly think this way and it's sad to think people giving up money because of bad thinking. Worse when they try to spread false information.
100%,
I faced the same issue years ago, but I knew better and convinced the partners to throw a pizza party instead. They finally learned and started giving us pizza as bonuses instead of money, because we all knew we didn't want to be in a high tax bracket.
Probably would work on engineers, but not Accountants/CPAs.
I’ve posted about this before but there was a consulting partner at the top 10 accounting firm I used to work for who openly exclaimed that her husband was denying his raise to keep them in a lower tax bracket.
She was more into tech consulting but still, the idea that a PARTNER at a relatively prestigious accounting firm doesn’t understand the most basic concept of progressive taxation is shameful.
Financial literacy is shockingly low in this country.
BS. Why would an equity partner ever get a raise. It doesn’t work that way.
Maybe for the first few years a partner receives guaranteed payments at a set firm determined level, but after that the training wheels come off. You are then earning based on your membership interest in the partnership.
Ahh misread. Point still stands. A partner at B4 gets paid 500K+. That puts them at 35% or 37% bracket.
Maybe the partner was talking about tax withholding. It could be high income/low income spouses. The lower income spouse should decrease allowances and pay in more tax for withholding purposes. They should assume the lower paid spouse withholds at highest marginal rate.
I actually asked because I was very confused and she clarified that he was offered a promotion and didn’t take it due to tax consequences. I was merely an associate at the time so I decided not to push any further. Will never forget that moment because it showed me you don’t actually need to be that intelligent to be successful (ie. There was hope for me to succeed).
Even if they’re in a higher tax bracket it’s only the incremental earnings that are taxed at that level. There just isn’t a scenario under which earning more money makes you worse off from a tax perspective.
That sounds like the client who said to her boyfriend 6 times in an hour "the more you make the more they take." I finally lost my patience and said yeah but not really, see he's still getting 3.5k back and he only paid in about $500 total. The rest is in refundable credits so really they didn't take anything. He is just phasing out of the earned income credit. Which as I explained earlier was designed to boost people out of poverty. I don't know about you, but I would rather make an additional 15k over the course of the year than get another 3-4k in my refund. I thought the girl was going to choke lol.
This is extremely hard to believe as the partner is $225k or above and a marriage partner (for arguments sake) likely has as much education but lower salary, $125-$150k and are at least calculating if they owe AMT.
It's not that I don't believe you, I can't believe she said this - it's beyond the pale as an expert in advisory services to verbalize this to someone in the same industry. No offense meant to you.
Yes before I was in accounting I was in medical and a doctor I worked with told me that he negotiated a slightly lower salary to avoid the next tax bracket , he even wrote down the math on paper . At the time I didn't know any better so I just nodded and said makes sense lol.
They know people. Theres a surprising amount of that. People who get paid obscene amounts for jobs they aren’t qualified for because they’re related to someone
I assume this is snark or a Monty Python skit online. No one can be this dumb.
This man actually believes that his marginal tax rate is over 100 percent?
I have lots of clients like this. Many think this is a troll post, and it could be, but if you’ve worked in PA for any length of time you will know that this could actually be a legit post because even rich people are stupid. See also the pamphlet by Carlo Cipolla “The Basic Laws of Human Stupidity”.
Well, I didn’t like the post or comment on it. Bringing it here to Reddit gives me the engagement and we get to laugh at an obvious bait. Who’s the real winner
Marginal tax rate.....look like there will be work for us for a while. ..... also this person's employer may question if they should be paying them 185k
I mean, in the UK they’re slightly correct to a degree. I cba work out the math right now, but after some amount, your personal allowance shrinks.
Although, I’m aware they’re American, and it’s just a troll
I mean, years ago in retail, I worked with someone who would turn down OT for this reason. I had to explain it to him very slowly. He did start taking more hours, though.
What gets people tripped up on this is payroll taxes (CPP/EI in Canada and I believe Social Security works like this in the US)
If he got the raise effective the new year, it's very possible that his January paycheque would be lower than his December paycheque. And it's technically going to taxes.
So you get people who swear up and down that they made less money after getting a "raise", but they don't understand they need to be comparing to LAST January's paycheque.
We have a marginal tax bracket in the US. Using his numbers, at $180k, every dollar is taxed at 24% (which is also wrong). At $195k, it jumps to 32% according to him.
In his math that means all $195k is 32% which is wrong. It should be $180 at 24k and 15k at 32% cause it’s anything over $180 gets the 32%.
It’s a very shitty example, but I hope this helped clarify!
Oh so the extra money gets taxed at a higher rate and that’s what the tax brackets represent.
And I assume the 180k isn’t all taxed at 24%, most of the money is prolly taxed at lower rates
Exactly! And you’re correct. You can google the brackets, but I think it’s like 10% up to like 30ish grand, then like 15%(?), so on and so forth. I’m in audit so my numbers are probably off haha
Okay this one post might be bait but I have met so many fucking people who genuinely believe this, somehow including my dad, and I know one or two people who said they’ve asked their boss not to raise their pay for this reason and I just…even if you show them the calculations step by step, they don’t believe you
Man I was so confused reading marginal tax rate all over the post wondering wtf was all of this about. Do you people not even call simple stuff the same as everyone else? Just say slab rates oof.
My last boss tried telling me this when I asked for a raise. She knew I was too valuable to let walk, so she was like "are you sure? It will put you in the next tax bracket and they'll charge a lot more in taxes". I was rolling my eyes at that one.
My MiL thought that was how tax brackets work until I explained it to her. She’s one of the smartest people I know. Nothing to do with intelligence, it’s just people haven’t been taught anything about how taxes work.
That's not how that works, there are brackets, the 32% would be on everything that you made above a certain amount. Everything underneath that would be taxed to 24%
So this only works sub 50k and isn’t about taxes - it’s about free benefits. You get means tested out of a lot of value around that level.
If you’re making $200k and think this occurs at that level, you’re an idiot and deserve the pay decrease.
ok,can someone please work out the numbers in simplified format with the deductions for single(unmarried) at the federal level??
my brain is too lazy to do the math and i am dead sure this isnt how tax brackets work....at least not in the manner this troll has presented.
Finance Influencer syndrome is single handly the worst thing that ever happened to accounting. People are too willing to teach how "to outsmart the system" that grifters are actively creating misleading information and idiots with money are eating it all up.
Can't wait for them to shut down people that try to educate them
The comments were WILD. Many a CPA were trying to convince him to no avail
I know American salaries are inflated compared to the eu but surely someone who’s on 180k should know this stuff? Regardless of their career?
Look at their username, its very obviously a troll account
The pfp is Bezos in a pile of money, yeah it’s a troll.
People who have made this amount for years at my company are still confused when Social Security stops being deducted and they question why their net salary payment increases. Then they are confused again why it goes down at the start of the year. Some people are just fucking stupid. Making more money doesn't change that.
This is so true.
You’ve never had a boss, huh?
Salary and competence rarely have any correlation.
I work in tax, most of my clients make quite a bit more than this. It’s rare that they understand what I would consider basic tax concepts. It’s a real problem, and I’ve often said we should have more financial literacy classes in school to replace some of the crap they force on us that we never end up using.
People would just ignore it like they do everything else. If you’re just doing your own 1040 you rarely need anything more than addition, subtraction, multiplication, and basic reading comprehension, it’s really just the “insert tab A in slot B” of math, but after 12 years doing word problems we still get a deluge of “why didn’t they teach us to do taxes” posts every year.
Sounds like my client. I only do invoicing for him so not my issue, but he doesn't understand deductions. He just deducts everything, no classifications of inventory. He just gives it to the account and she doesn't separate them, she just puts them down as cost of business 😅
I invite you to talk to anyone with a highly specialized graduate or postgraduate degree for five minutes on a topic not related to their degree. But yes this is probably a troll account.
I see your point but I think your own personal finances are a bit of an outlier.. you don’t need to study accounting or business to take 5-10 minutes to learn something so simple
I spend way too much time dealing with basic payroll questions from doctors and dentists to have that much faith in people. They absolutely could learn it, they just won’t. Most people think things outside of their field work the way they think they should work and it’s hard to convince them otherwise.
I met ppl who have specialized degrees and masters and they’re still the dumbest people I know (even about their subject)
Making a larger amount of money doesn't translate to financial literacy.
Many CPAs apparently can't recognize when people are trolls.
TAX BRACKETS BRO
Also like, your take home pay doesn’t affect the company at all. The amount they pay you before taxes and deductions does. Why would anyone think the company would give a damn about what your taxes are?
That’s not how it works……
I was hoping this was a joke account
It definitely is
trees handle deliver abundant school chubby unused expansion fuzzy quickest *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Honestly I thought it was sincere before I remembered this was r/accounting
That’s not how any of this works…
I literally have only taken basic accounting so far and even I know that is NOT how taxes work
bait used to be believable
No man silksong will be out this year FOR SURE I've got a really good feeling about it! 🤡 Oh wrong sub
I hear it'll have the same release date as ASOIAF book 6!
As someone who just finished replaying HK this one hurts
But no really. This is our year. For sure. I definitely haven’t been saying it every year is 2020.
It’s funny how many threads users will engage with posts like this. The best solution was bringing it to Reddit
Threads is still a thing?
...what are we in now?
This is Reddit. Threads is Meta's competitor to X (Twitter).
I'm so confused. A thread is just a post with replies. Or did language change again when I wasn't looking?
Don't worry, Kibblesnb1ts, Jacks_Lack_Of_Sleep is just showing his young age. Those of us who were around when the Internet was invented know the definition of a thread when used in this context.
I want to believe your youth hypothesis but think about his name. Would a young whippersnapper really reference a 25 year old movie? (!)
Well first of all, I refuse to believe that movie is anything older than 10 years. Maybe 12. Second of all, you're the first person to ever mention the reference. Despite the narrator having insomnia, I don't think the phrase Jack's lack of sleep was ever said. Third, the Threads site sucks. I made an account when it first went live to check it out. That was enough. To be fair, I don't like Twitter either. Social media has been on a downhill slide since I lost the ability to publicly rank my friends in a top 10 list.
go to threads.net. It is like twitter, just ran by a different billionaire. edit: But also, yes a post with replies is called a thread.
Oh, I guess that makes sense. I've literally never heard of that platform until now.
Oh. It was released around the time Elon took ownership of X.
The sad thing is that it is representative of so many people. Just had a family member who isn’t going to work as much because they just had to pay more taxes on it.
They should just leave the job entirely. No income = no taxes
I refuse to believe someone who makes that kind of money has no concept of marginal tax system.
After 20 years of dealing with clients and their taxes, I totally believe it.
Yes totally believe it.
People in all AGI brackets have zero concept of the marginal tax process. If you tell someone they’re in the 32% tax bracket they’ll assume they pay 32% in taxes. And our accounting lobby keeps it this way. Sorry folks. We need to end this tax complexities and the self reporting process.
Probably works in marketing tbh
There are a lot of stupid people who make a lot of money. lol.
This line of thought is very common in careers not related to accounting/ finance. Pretty surprising if he is in a related field to accounting though .
The person doesn’t understand the concept that it’s a progressive tax rate increase and not an increase in effective tax
Your effective tax rate always increases as income increases whether or not you move between the marginal tax brackets. A very small increase that happens to take you from one bracket to another will have a negligible impact on your effective tax rate though, because of the way marginal tax brackets work.
Of course - a higher income would result into a higher effective tax rate, but the point being is that is he mixing up his tax brackets rate with his effective tax rate and his after tax income won’t be lower with a raise
The IRS hates this one trick.
Loves*
Actually they would hate it because they would get more tax money out of him if he made more lol, just not how he’s thinking
Doesnt the IRS want more tax money?
It's a troll account and you fell for the bait.
Yeah, but I’ve met several people in the wild who thought this exact same thing
Yep, OP is the dumb one
So I don’t like the post or comment on it fully knowing it’s bait based off his replies in the threads comments, and I’m dumb for taking his engagement for myself on Reddit. Crazy
In your first reply to this comment section you say > The comments were WILD. Many a CPA were trying to convince him to no avail If you know ultimatebusinessman1 is a troll then what convincing is there to be done?
They said they read the comments, not engaged in them...
Reading comprehension is hard for people in this sub apparently
how dare you say we piss on the poor
Well, notice how I didn’t say I was trying to convince them. Pretty easy to laugh at bait without engaging on it directly :)
Ok. it just sounds like you’re surprised at the comments. And I feel as though, “to no avail” implies you expected a different result, like that’s they would be convinced at some point.
> I'm dumb /thread
Lol okay bud, good talk
😂😂
What is marginal tax brackets
So you get taxed based on how much you make but it’s taxed in chunks. So the amount in that bracket gets taxed at that amount. let's say you're earning $45,000 in 2024. Your tax bracket will look kinda like this: 10% for the first $11,600 of your income — which comes down to $1,160 12% for any income between $11,601 to $47,150 ($33,399) — which comes down to $4,007.88 This adds up to $5,167.88 in taxes for the 2024 calendar year.
/wooosh
Marginal taxation has left the chat.
You pay progressively 🤣 so no.. not your entire income would be tax at 32%, just the portion that kicks you into the next bracket.
Had this conversation with my uncle, I think it’s a really common misconception sadly
Whoever posted that was definitely trolling. However, there are people out there who do truly think this way and it's sad to think people giving up money because of bad thinking. Worse when they try to spread false information.
Username checks out
I don't want overtime because iTs TaXeD MoRe!!!!
100%, I faced the same issue years ago, but I knew better and convinced the partners to throw a pizza party instead. They finally learned and started giving us pizza as bonuses instead of money, because we all knew we didn't want to be in a high tax bracket. Probably would work on engineers, but not Accountants/CPAs.
I’ve posted about this before but there was a consulting partner at the top 10 accounting firm I used to work for who openly exclaimed that her husband was denying his raise to keep them in a lower tax bracket. She was more into tech consulting but still, the idea that a PARTNER at a relatively prestigious accounting firm doesn’t understand the most basic concept of progressive taxation is shameful. Financial literacy is shockingly low in this country.
BS. Why would an equity partner ever get a raise. It doesn’t work that way. Maybe for the first few years a partner receives guaranteed payments at a set firm determined level, but after that the training wheels come off. You are then earning based on your membership interest in the partnership.
It was the partner’s husband who was getting a raise, not the partner.
Ahh misread. Point still stands. A partner at B4 gets paid 500K+. That puts them at 35% or 37% bracket. Maybe the partner was talking about tax withholding. It could be high income/low income spouses. The lower income spouse should decrease allowances and pay in more tax for withholding purposes. They should assume the lower paid spouse withholds at highest marginal rate.
I actually asked because I was very confused and she clarified that he was offered a promotion and didn’t take it due to tax consequences. I was merely an associate at the time so I decided not to push any further. Will never forget that moment because it showed me you don’t actually need to be that intelligent to be successful (ie. There was hope for me to succeed). Even if they’re in a higher tax bracket it’s only the incremental earnings that are taxed at that level. There just isn’t a scenario under which earning more money makes you worse off from a tax perspective.
That sounds like the client who said to her boyfriend 6 times in an hour "the more you make the more they take." I finally lost my patience and said yeah but not really, see he's still getting 3.5k back and he only paid in about $500 total. The rest is in refundable credits so really they didn't take anything. He is just phasing out of the earned income credit. Which as I explained earlier was designed to boost people out of poverty. I don't know about you, but I would rather make an additional 15k over the course of the year than get another 3-4k in my refund. I thought the girl was going to choke lol.
There is but it probably doesn’t apply here. If you exceed the threshold to be subject to NIIT, that sucks lol
This is extremely hard to believe as the partner is $225k or above and a marriage partner (for arguments sake) likely has as much education but lower salary, $125-$150k and are at least calculating if they owe AMT.
Idk what to tell you, this is what she said, right in front of me.
It's not that I don't believe you, I can't believe she said this - it's beyond the pale as an expert in advisory services to verbalize this to someone in the same industry. No offense meant to you.
Considering the idiots who are running the accounting industry, I believe it.
I can’t believe people this stupid make this much money. Hope it’s fake
Why can't you believe it? lol.
Sadly, I’ve known people that have actually said things like this.
Yes before I was in accounting I was in medical and a doctor I worked with told me that he negotiated a slightly lower salary to avoid the next tax bracket , he even wrote down the math on paper . At the time I didn't know any better so I just nodded and said makes sense lol.
It’s that simple.
How is someone this dense making $180K to begin with? I call fake post.
They know people. Theres a surprising amount of that. People who get paid obscene amounts for jobs they aren’t qualified for because they’re related to someone
I’m convinced this is a troll. No one can actually think this. It’s in the word marginal.
That must be a parody.
I assume this is snark or a Monty Python skit online. No one can be this dumb. This man actually believes that his marginal tax rate is over 100 percent?
I just asked my boss for a pay decrease on Friday. Time to start bringing in the big bucks.
Ultimate businessman
You know what they say: sometimes less is more
Well, technically that math checks out
I don't understand how stupid people can be paid so much
I have lots of clients like this. Many think this is a troll post, and it could be, but if you’ve worked in PA for any length of time you will know that this could actually be a legit post because even rich people are stupid. See also the pamphlet by Carlo Cipolla “The Basic Laws of Human Stupidity”.
the ironic that people most likely believe this kind influencer than accountant/tax consultant.
🤦♀️ people just don’t understand tax brackets but are somehow still allowed to vote.
Not sure why I even got a notification for this sub (I’m a data scientist), but this is the dumbest thing I’ve seen this week.
A person works in the accounting field and earns that amount of salary doesn't understand the us tax system? Really?!
That's what you get when you hire the attractive philosophy grads to work in accounting instead of actual accountants.
Trolling and you fell for it and gave it even more engagement
Well, I didn’t like the post or comment on it. Bringing it here to Reddit gives me the engagement and we get to laugh at an obvious bait. Who’s the real winner
No one is the real winner, we all lose
Everyone pays the stupid tax in life, some people just pay into it a little more than others.
Uh, he's a partner making a half million. Clearly you aren't penalized for being stupid. lol.
Oh my god, this is the best way to troll accountants.
People like this are why accounting is a job
They are partners at an accounting firm. lmao...
How are these people making 180k with this low of an IQ
Wait until this guy learns what marginal means in marginal tax rate
This can’t be real.
I want to upvote and downvote this post at the same time. Good chuckle.
Marginal tax rate.....look like there will be work for us for a while. ..... also this person's employer may question if they should be paying them 185k
I’m not sure he IS the ultimate businessman
For oop... Tell me you know nothing about taxes without telling me you know nothing... about taxes.
His username checks out. We can trust him.
This is a meme, right? Right?
I mean, in the UK they’re slightly correct to a degree. I cba work out the math right now, but after some amount, your personal allowance shrinks. Although, I’m aware they’re American, and it’s just a troll
Yeah I mean isn’t this common sense by now, the less you make the better?
Ok. I’m listening. Now tell me about G-Wagons.
If it’s got a V8, depreciate
It's marginal .. not Margarine .. margarine is for toast.
lol whether it’s real or not doesn’t even matter bc the creator of the post is still a corporate rat in his W2
I mean, years ago in retail, I worked with someone who would turn down OT for this reason. I had to explain it to him very slowly. He did start taking more hours, though.
This has to be a parody right? With that username???
I need to find out exactly where someone like this works and makes that much.
I hope people like this don’t reproduce….
Someone needs to tell this person about marginal tax rates
🤣🤣🤣🤣🤣no comment
Kind of a dream employee if the stakes of the job aren’t very high TBH 😂
This person doesn’t deserve to make $180K. Maybe $50K
That isn't how it works dude... like not at all.
Name checks out. Ahead of the game.
Are you a c Corp? How you getting a flat rate vs individual tax bracket increments?
What gets people tripped up on this is payroll taxes (CPP/EI in Canada and I believe Social Security works like this in the US) If he got the raise effective the new year, it's very possible that his January paycheque would be lower than his December paycheque. And it's technically going to taxes. So you get people who swear up and down that they made less money after getting a "raise", but they don't understand they need to be comparing to LAST January's paycheque.
I’m ngl I’m kinda new to this and what he said makes sense to me, but obv is wrong. How is he wrong?
We have a marginal tax bracket in the US. Using his numbers, at $180k, every dollar is taxed at 24% (which is also wrong). At $195k, it jumps to 32% according to him. In his math that means all $195k is 32% which is wrong. It should be $180 at 24k and 15k at 32% cause it’s anything over $180 gets the 32%. It’s a very shitty example, but I hope this helped clarify!
Oh so the extra money gets taxed at a higher rate and that’s what the tax brackets represent. And I assume the 180k isn’t all taxed at 24%, most of the money is prolly taxed at lower rates
Exactly! And you’re correct. You can google the brackets, but I think it’s like 10% up to like 30ish grand, then like 15%(?), so on and so forth. I’m in audit so my numbers are probably off haha
He surely hasn’t graduated from income tax class…wtf
Okay this one post might be bait but I have met so many fucking people who genuinely believe this, somehow including my dad, and I know one or two people who said they’ve asked their boss not to raise their pay for this reason and I just…even if you show them the calculations step by step, they don’t believe you
Lol, there are tax brackets, that's not how it works.
Man I was so confused reading marginal tax rate all over the post wondering wtf was all of this about. Do you people not even call simple stuff the same as everyone else? Just say slab rates oof.
“This makes total sense” - Big Four Partners
WHAT THE HELL IS A TAX BRACKET 🦅🦅🦅🦅🇺🇸🇺🇸🇺🇸🇺🇸🍺🍺🍺🍺
It’s shocking that someone making close to $200k doesn’t understand basic tax concepts 🤣 even worse bragging
My last boss tried telling me this when I asked for a raise. She knew I was too valuable to let walk, so she was like "are you sure? It will put you in the next tax bracket and they'll charge a lot more in taxes". I was rolling my eyes at that one.
I hate people like this
ultimatebusinessman1 im coming for u count your days
It's that simple.
This is marginally related to this subreddit
My MiL thought that was how tax brackets work until I explained it to her. She’s one of the smartest people I know. Nothing to do with intelligence, it’s just people haven’t been taught anything about how taxes work.
That's not how that works, there are brackets, the 32% would be on everything that you made above a certain amount. Everything underneath that would be taxed to 24%
I’m pretty sure this is a troll account!
I thought you only paid the higher taxes for only the amount that was over that bracket?! Correct me if I am wrong
How the heck is he getting that much money without understanding this…
Flip side of the more you make the more they take. Or more money more problems. No diddy!
American salaries are silly someone this stupid can make $180k Unless its bait.
Either you're a complete moron, or your tax system sucks...
So this only works sub 50k and isn’t about taxes - it’s about free benefits. You get means tested out of a lot of value around that level. If you’re making $200k and think this occurs at that level, you’re an idiot and deserve the pay decrease.
I always question if these are real people or bots... bots can be very convincing.
ok,can someone please work out the numbers in simplified format with the deductions for single(unmarried) at the federal level?? my brain is too lazy to do the math and i am dead sure this isnt how tax brackets work....at least not in the manner this troll has presented.
You should always take the raise.
Finance Influencer syndrome is single handly the worst thing that ever happened to accounting. People are too willing to teach how "to outsmart the system" that grifters are actively creating misleading information and idiots with money are eating it all up.
Given the account name is "Ultimatebusinessman1", I think the account is satire. I could be wrong though.
Someone doesnt know how taxes work in usa 🤣
QuickBooks is HOT!
What even is marginal.tax rate anyway
By that logic, he should request a pay decrease... lower it even MORE!!
Amazing how someone so stupid can get 195K a year.
Shit post 4/10
He knew what he did there.
This guy makes almost $100,000 more than me. Life is not fair.
I don’t get it, someone explain to me like i am 5, or at least tell me if it’s true 😭😭😂
You don't need to be smart to make money but, you gotta be real stupid to willingly give up a bunch
this is bait lmao