Categories
Math!

Where Did My Overtime and Bonus Go?

One of the best parts of being an hourly rather than salaried employee is the opportunity for overtime, but sometimes you work more hours and bring home a smaller paycheck. And then there are the eagerly awaited bonuses that have such an unexpectedly huge chunk of taxes taken out that your plans for the windfall […]

Categories
Math!

Who Really Pays Taxes? Let’s Do the Math!

(Written with assistance from my husband the CPA) I’m sure you’ve all heard that our income taxes are “unfair” because the top 1% pays 40% of the taxes in this country and that half of us pay nothing at all. People espousing this view are quick to jump to doomsday scenarios and paranoid rambling. The […]