To: Vaquero
Problem is the lump sum and it is taxed as thought you make that much every week.
No it isn’t. Your tax rate is determined by that YEAR’s income.
45 posted on
02/09/2014 1:01:55 PM PST by
Atlas Sneezed
("Income Inequality?" Let's start with Washington DC vs. the rest of the nation!)
To: Atlas Sneezed
You determine your withholding. Your weekly rate is based on your weeky salary that is spread over a year.
When I used to get a lot of overtime I would zoom into a different bracket and have to wait till next year for a refund.
50 posted on
02/09/2014 1:56:35 PM PST by
Vaquero
(Don't pick a fight with an old guy. If he is too old to fight, he'll just kill you.)
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson