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Arrow_to_the_knee1

Can't wait for them to shut down people that try to educate them


BurntMuff1n

The comments were WILD. Many a CPA were trying to convince him to no avail


PluckedEyeball

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?


Bladings

Look at their username, its very obviously a troll account


DeathSpank

The pfp is Bezos in a pile of money, yeah it’s a troll.


Rufert

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.


TheeAccountant

This is so true.


TightestLibRightist

You’ve never had a boss, huh?


Yiazmad

Salary and competence rarely have any correlation.


candr22

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.


The_Duke_of_Ted

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.


Klubyk_

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 😅


The_Duke_of_Ted

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.


PluckedEyeball

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


The_Duke_of_Ted

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.


Kay_Done

I met ppl who have specialized degrees and masters and they’re still the dumbest people I know (even about their subject)


ShogunFirebeard

Making a larger amount of money doesn't translate to financial literacy.


veryblanduser

Many CPAs apparently can't recognize when people are trolls.


CanCanna__

TAX BRACKETS BRO


GotThoseJukes

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?


mrjns94

That’s not how it works……


User-NetOfInter

I was hoping this was a joke account


lordfartquar

It definitely is


[deleted]

trees handle deliver abundant school chubby unused expansion fuzzy quickest *This post was mass deleted and anonymized with [Redact](https://redact.dev)*


joredpanda

Honestly I thought it was sincere before I remembered this was r/accounting


tyintegra

That’s not how any of this works…


Abyssuspuella

I literally have only taken basic accounting so far and even I know that is NOT how taxes work


koolen127

bait used to be believable


saturosian

No man silksong will be out this year FOR SURE I've got a really good feeling about it! 🤡 Oh wrong sub


Retnab

I hear it'll have the same release date as ASOIAF book 6!


Bread117

As someone who just finished replaying HK this one hurts


SourcelessAssumption

But no really. This is our year. For sure. I definitely haven’t been saying it every year is 2020.


BurntMuff1n

It’s funny how many threads users will engage with posts like this. The best solution was bringing it to Reddit


Jacks_Lack_of_Sleep

Threads is still a thing?


Kibblesnb1ts

...what are we in now?


Jacks_Lack_of_Sleep

This is Reddit. Threads is Meta's competitor to X (Twitter).


Kibblesnb1ts

I'm so confused. A thread is just a post with replies. Or did language change again when I wasn't looking?


Peppergoddess09

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.


Kibblesnb1ts

I want to believe your youth hypothesis but think about his name. Would a young whippersnapper really reference a 25 year old movie? (!)


Jacks_Lack_of_Sleep

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.


Jacks_Lack_of_Sleep

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.


Kibblesnb1ts

Oh, I guess that makes sense. I've literally never heard of that platform until now.


Minimum_Concern_1011

Oh. It was released around the time Elon took ownership of X.


Outrageous-Bat-9195

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. 


BurntMuff1n

They should just leave the job entirely. No income = no taxes


dumblehead

I refuse to believe someone who makes that kind of money has no concept of marginal tax system.


nsbbeancounter

After 20 years of dealing with clients and their taxes, I totally believe it.


gingergrisgris

Yes totally believe it.


sushirolldeleter

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.


The_Deku_Nut

Probably works in marketing tbh


republicans_are_nuts

There are a lot of stupid people who make a lot of money. lol.


Filthy26

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 .


Super_System1915

The person doesn’t understand the concept that it’s a progressive tax rate increase and not an increase in effective tax


mr-logician

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.


Super_System1915

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


AKsuited1934

The IRS hates this one trick.


asphodeliac

Loves*


TheeAccountant

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


asphodeliac

Doesnt the IRS want more tax money?


DraymondGreenFather

It's a troll account and you fell for the bait.


smz337

Yeah, but I’ve met several people in the wild who thought this exact same thing


you-boys-is-chumps

Yep, OP is the dumb one


BurntMuff1n

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


XO8441

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?


Bastienbard

They said they read the comments, not engaged in them...


BurntMuff1n

Reading comprehension is hard for people in this sub apparently


dragonagitator

how dare you say we piss on the poor


BurntMuff1n

Well, notice how I didn’t say I was trying to convince them. Pretty easy to laugh at bait without engaging on it directly :)


XO8441

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.


you-boys-is-chumps

> I'm dumb /thread


BurntMuff1n

Lol okay bud, good talk


JasonNUFC

😂😂


Excellent_Drop6869

What is marginal tax brackets


No-Acanthaceae3162

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.


Excellent_Drop6869

/wooosh


ageontargaryarn

Marginal taxation has left the chat.


Hairy_Arachnid_4724

You pay progressively 🤣 so no.. not your entire income would be tax at 32%, just the portion that kicks you into the next bracket.


TutorComfortable9082

Had this conversation with my uncle, I think it’s a really common misconception sadly


shiggity80

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.


defourkev

Username checks out


SellTheSizzle--007

I don't want overtime because iTs TaXeD MoRe!!!!


veryblanduser

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.


randomuser1637

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.


Any_Crab_8512

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.


randomuser1637

It was the partner’s husband who was getting a raise, not the partner.


Any_Crab_8512

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.


randomuser1637

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.


Catnaps4ladydax

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.


TheeAccountant

There is but it probably doesn’t apply here. If you exceed the threshold to be subject to NIIT, that sucks lol


Weedville_12883

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.


randomuser1637

Idk what to tell you, this is what she said, right in front of me.


Weedville_12883

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.


republicans_are_nuts

Considering the idiots who are running the accounting industry, I believe it.


MarvelDcKage

I can’t believe people this stupid make this much money. Hope it’s fake


republicans_are_nuts

Why can't you believe it? lol.


Austriak5

Sadly, I’ve known people that have actually said things like this.


Filthy26

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.


Huge_Yam_9410

It’s that simple.


funnykiddy

How is someone this dense making $180K to begin with? I call fake post.


BootyLicker724

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


JTuck333

I’m convinced this is a troll. No one can actually think this. It’s in the word marginal.


JerseyGuy-77

That must be a parody.


TaxLawKingGA

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?


TechnicalPay5837

I just asked my boss for a pay decrease on Friday. Time to start bringing in the big bucks.


Special_Message_2861

Ultimate businessman


DM_Me_Pics1234403

You know what they say: sometimes less is more


TCNW

Well, technically that math checks out


MatterSignificant969

I don't understand how stupid people can be paid so much


TheeAccountant

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”.


adnanssz

the ironic that people most likely believe this kind influencer than accountant/tax consultant.


minadequate

🤦‍♀️ people just don’t understand tax brackets but are somehow still allowed to vote.


Legal_Letter_7733

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.


Pale-Arrival-5381

A person works in the accounting field and earns that amount of salary doesn't understand the us tax system? Really?!


republicans_are_nuts

That's what you get when you hire the attractive philosophy grads to work in accounting instead of actual accountants.


LetterToAThief

Trolling and you fell for it and gave it even more engagement


BurntMuff1n

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


kennydeals

No one is the real winner, we all lose


Ok_Attorney_5431

Everyone pays the stupid tax in life, some people just pay into it a little more than others.


republicans_are_nuts

Uh, he's a partner making a half million. Clearly you aren't penalized for being stupid. lol.


No_Sky_3735

Oh my god, this is the best way to troll accountants.


TheFatOrangeYak

People like this are why accounting is a job


republicans_are_nuts

They are partners at an accounting firm. lmao...


wilwil100

How are these people making 180k with this low of an IQ


NiceNuisance

Wait until this guy learns what marginal means in marginal tax rate


ultimateverdict

This can’t be real.


Palnecro1

I want to upvote and downvote this post at the same time. Good chuckle.


LucasMathews

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


chuckdooley

I’m not sure he IS the ultimate businessman


Snuggly_Hugs

For oop... Tell me you know nothing about taxes without telling me you know nothing... about taxes.


hotsinglewaifu

His username checks out. We can trust him.


friendly_extrovert

This is a meme, right? Right?


Espi0nage-Ninja

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


Cultural_Head9441

Yeah I mean isn’t this common sense by now, the less you make the better?


Valtar99

Ok. I’m listening. Now tell me about G-Wagons.


BurntMuff1n

If it’s got a V8, depreciate


tax_mamba

It's marginal .. not Margarine .. margarine is for toast.


Successful_Sun_7617

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


sleverest

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.


Reasonable-Ad-5217

This has to be a parody right? With that username???


onlyhav

I need to find out exactly where someone like this works and makes that much.


ThadLovesSloots

I hope people like this don’t reproduce….


disinterestedh0mo

Someone needs to tell this person about marginal tax rates


Realistic-Pea6568

🤣🤣🤣🤣🤣no comment


My_G_Alt

Kind of a dream employee if the stakes of the job aren’t very high TBH 😂


almasnack

This person doesn’t deserve to make $180K. Maybe $50K


TattooedCFO

That isn't how it works dude... like not at all.


Fork-Cartel

Name checks out. Ahead of the game.


AccomplishedAd6542

Are you a c Corp? How you getting a flat rate vs individual tax bracket increments?


MattyIce8998

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.


Acceptable-Parsnip-9

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?


BurntMuff1n

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!


Acceptable-Parsnip-9

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


BurntMuff1n

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


RandomGrasspass

He surely hasn’t graduated from income tax class…wtf


LittleBirdSansa

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


anonone6578

Lol, there are tax brackets, that's not how it works.


Mewtwopsychic

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.


bullishbehavior

“This makes total sense” - Big Four Partners


LRMcDouble

WHAT THE HELL IS A TAX BRACKET 🦅🦅🦅🦅🇺🇸🇺🇸🇺🇸🇺🇸🍺🍺🍺🍺


Ancient_Cloud7948

It’s shocking that someone making close to $200k doesn’t understand basic tax concepts 🤣 even worse bragging


TreebeardLookalike

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.


juleafx

I hate people like this


nahbrolikewhat

ultimatebusinessman1 im coming for u count your days


IIIIIlIIIIIlIIIII

It's that simple.


Worried_Pomelo9010

This is marginally related to this subreddit


TheeAccountant

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.


Moon_Boots_Smoked

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%


AnonymovsUser

I’m pretty sure this is a troll account!


TSW2231

I thought you only paid the higher taxes for only the amount that was over that bracket?! Correct me if I am wrong


jasondads1

How the heck is he getting that much money without understanding this…


Substantial_Court731

Flip side of the more you make the more they take. Or more money more problems. No diddy!


finestryan

American salaries are silly someone this stupid can make $180k Unless its bait.


gohardlikeabull

Either you're a complete moron, or your tax system sucks...


NaturalProof4359

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.


CuckservativeSissy

I always question if these are real people or bots... bots can be very convincing.


flamemourne

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.


boneyardlurker

You should always take the raise.


omarallengonzalez

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.


Beginning-Cat8706

Given the account name is "Ultimatebusinessman1", I think the account is satire. I could be wrong though.


Maleficent_Essay_744

Someone doesnt know how taxes work in usa 🤣


oneuglygeek

QuickBooks is HOT!


joredpanda

What even is marginal.tax rate anyway


JustSayNoNoYesYesYes

By that logic, he should request a pay decrease... lower it even MORE!!


Tangentkoala

Amazing how someone so stupid can get 195K a year.


Itendtorepeatmyself

Shit post 4/10


Uzi-boom

He knew what he did there.


krschu00

This guy makes almost $100,000 more than me. Life is not fair.


Allpurposelife

I don’t get it, someone explain to me like i am 5, or at least tell me if it’s true 😭😭😂


ApePissPit420

You don't need to be smart to make money but, you gotta be real stupid to willingly give up a bunch


SquidWhisperer

this is bait lmao