why is this a good thing? working more than 40 hours a week is for the mentally retarded.

>>509298901 (OP)
Democrats lost midterms over this and no tax on tips. This effects A LOT of people

>>509298901 (OP)
Good goyim debt slaves

>>509298901 (OP)
Stop being a faggot.

>>509299303
it doesn't impact them as much as they think. when i worked manual labor my mentally retarded coworkers thought overtime was taxed at double their normal rate. it's not.

'no tax on overtime' is actually a non refundable tax credit and it only applies to federal income tax. you still owe state, local, and payroll (ss/medicare) taxes.

>>509299419
>not taking federal taxes from OT hours worked won't be noticed
Do you think the people working OT will agree with you?

>>509300323
it's a non refundable credit. the average overtime slave is a poorfag getting massive tax credit gibs (standard deduction, child tax credit) with a minimal federal income tax liability. they won't benefit from 'no tax on overtime' because the 'no tax' part is limited to their federal income tax liability.

>>509300411
>No, people working OT won't notice
Okay

>>509298901 (OP)
You wouldn't get it, my nigger neet. Just get yo EBT and let the white men figure it out

Salaried worries aren’t paid overtime.
Only hour workers are, and they aren’t making much money.

>>509298901 (OP)
I haven’t need to work overtime since I was 20, seeing grown men act like this is good is hilarious kek.
>blue collar work is better than white collar work
>had to work 60 hours this week but it’s ok because I have no friends or a family and my entire social life is crying on /pol/ about niggers but my life is better than yours!
My sides, the overtime tax really made me realize how fucking sad tradies are.

>>509300568
Nobody wants to get it, now go dig a ditch nigger

>>509300778
>>509300823
>Democrats: How do we win back the poor and middle-class?
>By denying them no tax on OT and no tax on tips
The Democrats are finished. They only stand up for trannies and illegals and that's a fact. All they want to do is steal as much from them as they possibly can to keep them on their plantation. It's OVER!

>>509300568
i make $117k a year and work 25 hours a week (from home) on average.

>>509298901 (OP)
Often when someone works overtime it puts them in a higher tax bracket and they get more money taken out due to taxes. There are points where you make less money for the week by having the overtime.

>>509301166
(X) doubt

>>509301510
that's not how it works. the average american is a retard and doesn't understand taxes at all, which is why poorfag overtime slaves wanted this passed into law.

>>509301611
>that's not how it works.
Yes it does

>>509301611
>that's not how it works
And yet it has happened to me a few times in the past.

>>509299303
No. This bill is pure retard.

>>509298901 (OP)
Can't companies just structure it where they pay you minimum wage all week and $5000 for the 41st and last hour?

Gimmicks like this are why not to hold USD. Whether in 2 or 20 years the US ongoing to rugpull the rest of the world.

>>509301560
>>509301643
i'm a CPA accountant. it's not how it works. you are taxed at a higher rate on the incremental amount that falls within the respective tax bracket. again, the average american blue collar slave doesn't understand taxes at all. they see higher WITHHOLDING on their paycheck and assume that's the tax they pay. it's not -- payroll withholdings are conservative and assume you make that amount of money across the entire year. but you don't, so you get the money back at tax refund season. it's a problem with your employer withholding taxes, not the government.

>>509301649
see >>509301792.

>>509301510
Unless the US tax system is uniquely stupid when you are into a new tax bracket that only applies to what's earned within that new higher brecket. It's an urban myth among mouthbrrathers that you can ever make less my working more due to taxes.

>>509301792
>i'm a CPA accountant
(X) doubt

>>509301757
>Can't companies just structure it where they pay you minimum wage all week and $5000 for the 41st and last hour?

the worker wouldn't benefit because it's a non-refundable tax credit. taxes on overtime are reduced to the extent that a federal income tax liability on base 40 hour a week annual wage exists.

someone making min wage 40 hours a week would owe ~$0 in fed income tax. they would therefore not see a reduction in their overtime tax due.

>>509300411
You're a moron. I worked 6 day weeks 9+ hour days from beginning of December to mid March delivering heating oil. I want my fucking money, jew.

>>509301916

>>509301792
>>509301887
So it is different then when I was younger. 40 hours $325, 56 hours $320. I don't work overtime now so do not know how it's changed. I was just responding to OP on why people THINK it's a good thing.

>>509301996
>my dad works at Nintendo
Kek

>>509302042
if i were lying dont you think i would lie about being something cooler than an accountant?

>>509298901 (OP)
Goycattle who are hourly can't buy their dogshit trucks and wifey's Gucci bag otherwise. I kek how my brother brags about overtime and then seethes like a cuck when I show him I make more in hourly terms than him as a salary God that barely works 25-35hr a week with special reduced "summer hours" on Fridays.

>>509301792
>you are taxed at a higher rate on the incremental amount that falls within the respective tax bracket.
So overtime

>>509302071
>if i were lying
You are

>>509302134
kek. im in the same position with half day fridays through labor day. hourly wagecattle btfo. next year im going to try starting a side business (solo tax firm) on my 'free time' (the company's time.)

>Not included.
You got lied to.

>>509302042
You not only have no argument you don't even have a point. Even if you don't believe his credentials you're perfectly free to explain how things actually work according to yourather than sticking with "ur wrong lol"

>>509301932
But let's say this is someone earning $100k a year. Let's call that $45 an hour. But now let's structure their pay so that they make minimum wage (let's say $10) for the first taxable 40 hours of work every week, but for that 41st hour they make $1400 just for that hour. Their pay works out the same, but now 3/4 of their pay is "overtime" and tax sheltered. They'd go from a maybe ~15 percent federal income tax rate to zero.

What am I missing?

>>509301792
>I'm a CPA accountant and blah blah blah
You are either taking out your ass (highly likely) or just completely detached from the actual reality of what the guy within OT sees (also highly likely). Since payroll and HR has been boiled down to fake jobs and monkey watch monkey wait jobs everyone is running payroll software that's coded as lazily as possible. Their taxes ARE being withheld at a higher rate because the software looks at how much they earned during that period of time and taxes then as if that's what they always make. That's why bonuses get absolutely raped by taxes, the software assumes that's how much you make in one hour and calculates from their. Your "this is what CNN told me" pilpul does not align with the reality that the people see, because CNN is full of shit

>>509302164
>>509302190
did you finish high school? tax brackets aren't a difficult concept. think of it like buckets. each bucket has a % tax and the contents of the buckets are your $ earnings. when one bucket is full you start filling up the next bucket. there's never a situation where the entirety of your earnings (all preceding buckets) are taxed at a higher rate.

>>509300646
Salary is a scam. Sorry you fell for it. Every salaried worker I know works more than 40 a week and their pay doesn't reflect it, meanwhile all of my friends that are loaded are in trades & do side jobs. One of them has 300k in the bank and 0 of it is from investment bs. He lives like he's poor and works smartly.

>>509302222
>side business (solo tax firm) on my 'free time' (the company's time.)
A friend of mine does this. I considered it as well. Just make sure to work on what you want to do. Don't do side hustle for money or you'll probably burn out.

Otherwise, pic related.

>>509301049
You know this isn't a win for the Republican, right? This only lasts until Trump leaves office, then it goes right back to usual. 1 of the 2 benefits for the poor in the BBB isn't even a permanent change.

>>509302234
A lower AGI can increase your eligibility for other tax credits and deductions.

>>509302359
A lower AGI can increase your eligibility for other tax credits and deductions.

>>509302324
>What am I missing?
it's a non-refundable tax credit exactly like i explained. $10/hour x 40 hours x 52 weeks = $22k. the standard deduction is $14k for single filers. probably have insurance deductions and 401k contributions, so your taxable income would be close to $0. your federal income tax liability would be $0. let's just call it $500.

you make $100k - $22k = $78k overtime wages. you would stand to pay a few thousand dollars in fed income tax. (i'm not doing the calculation, too lazy.) let's just call it $5k potential tax due on that $78k of overtime wages.

it's a non-refundable tax credit. so take $5k potential tax on overtime LESS $500 tax due on your base pay at $10/hour. you still owe $4500 in fed income tax on overtime plus the $500 tax due on your base wages.

>>509298901 (OP)
I haven't looked into it but it's probably a scam of some sort.

>>509302352
Huh? What some payroll software is conservatively estimating isn't what you actually owe. You will get the difference back in the end.

>>509302407
>salary is a scam
Not really. It's realistic. Time accounting for hourly wage slaves is legitimately a waste of time. Your ability to meet a goal is more important than how many hours you actually worked.

At my company, they had the salary people do machines during a strike and yields went up by a lot, probably because salary people aren't being worked to death by inane labor standards. Stop supporting this wagie / salary divide and demand better from your union jews.

>>509302352
>. That's why bonuses get absolutely raped by taxes, the software assumes that's how much you make in one hour and calculates from their.

you're literally repeating what i just explained in the post you quoted. so why are you upset?

>>509302470
>Letting people keep more of their hard earned money isn't a win for Republican's!!
The disconnect from reality is real with you trannies. Keep it up, tho

>>509302541
So Trump lied. There is tax on overtime. I was just taking it at face value.

>>509298901 (OP)
too easily exploitable, just say your employees did 80 hours at 15$ a pop instead of 40 at 30$ and you got tax savings out of thin air, the irs isn't gonna send investigators to verify who's working how long

>>509302513
irrelevant to your assertion. also tax credit gibs commonly employ very broad phase outs.

>>509302584
I work a job that has goal oriented pay. You go home when the job is done & are paid per day of work. It sounds nice until you realize they just adjust your workload/jobs if you regularly complete the task early.

>>509302541
>it's a non-refundable tax credit exactly like i explained.
No, the overtime pay provision in the One Big Beautiful Bill is not a non-refundable tax credit. It is structured as an above-the-line deduction for qualified overtime compensation. This means workers can deduct the premium portion of their overtime pay (typically the extra half in time-and-a-half for hours over 40 per week) from their adjusted gross income (AGI) when filing taxes, reducing their taxable income. Unlike a tax credit, which directly reduces the amount of tax owed, a deduction lowers the income subject to tax, and its value depends on the taxpayer’s marginal tax rate. It is also not refundable, so it won’t result in a refund beyond the taxes owed.

>>509302773
>irrelevant to your assertion
See
>>509302789

>>509302702
>So Trump lied.
About?

why is everyone on /pol/ apparently a millionaire pulling 6 figures who only works 10 hours a week?

>>509302789
Watch for everyone in the US to suddenly start working +50 hours a week on paper.

Also is time and a half anywhere in legislation or just customary? Anything to stop an employer paying out income (on paper) at 2x or 3x bass pay?

Shit, great time to be a creative accountant. Trump is fully committed to burning down the US fiscally and economically (somebody else's problem when it all blows up), if you don't profit in the short-term someone else will.

>>509303033
>Watch for everyone in the US to suddenly start working +50 hours a week on paper.
>on paper
What does that mean exactly?

>>509302789
>No, the overtime pay provision in the One Big Beautiful Bill is not a non-refundable tax credit
you're thinking of the house version of the bill. the senate version of the bill is limited to your base tax liability, which is effectively a non-refundable credit.

>>509302651
Kek look at you reduced to businesses and the rich.

>>509303119
Claim wages as overtime to avoid taxes. Work 40 hours, get paid for 40, but agree with your boss to claim you worked 50 because you get more take-home pay that way. Only loser is the government.

>>509300778
Yeah, blue collar workers are retarded. That's why they work those jobs. A few family members say shit like "I make good money!" and it turns out they work 40 hours at $15 per hour, and 20 hours at $22.50 doing some bullshit job like digging a 12 foot deep ditch without shoring, or all the electrical in 120 cardboard houses with a bunch of beaners and tweakers.Then they get pissed when I tell them I work 35 hours a week (clock in time) and make $38.50 running samples in a lab at a winery. Working less hours upsets them since they equate more hours with more pay. For a real eye opener pose the question of "Would you work 32 hours a week but your pay would be adjusted so you earn the same amount of money?" most of them will say no, because again they only see hours worked as value and not amount paid.

I do 12 hr shifts, we get a few hours OT after 10hrs every day and then weekends are double time too. I'm pushing around $150/h on OT and being taxed about 45% so no tax on OT would be DOPE. Too bad I live in a communist shithole.

>>509301887
>Unless the US tax system is uniquely stupid
Yes it is, with the way the IRS does withholding. When you break the minimum if a bracket by a penny, they then withhold the new tax bracket rate.
Pic related is the brackets, if you made $191,950 you would owe $46,068, but if you make 191,951 you would owe 61,424.
The really bad thing is the jumps in tax bracket will happen at most jobs with time and half over time regularly.

While on the subject, saw something the other day that said this bill gets rid of the minimum alt tax... Is that actually true? How on earth did they manage to sneak that by everyone. Imagine being a Republican Senator or congressman defending hr tax-structuring rich paying no or next to no tax instead of the previous minimum. Maybe there will be no more elections in the US at this rate but I don't see this going down well with the +98 or whatever percent that weren't subject to the minimum tax. Trump is clearly burning down the country and the Republican Party on his way out. Who even benefits from this besides people on a first name basis with Trump and his kids???

>>509302029
It was not different when you were younger, you just don't understand how tax brackets work.

>>509303891
that's not how it works, dipshit. if you make $191,951 you would would pay 32% on the amount between $191,951 to $243,725.

>>509303891
>withholding
So you'll be refunded the money? Meh.

Simple: It acts as an encouragement to work more which adds to our total economic output. You don't have to work, it's just an incentive. This one makes sense to me, but the no tax on tips doesn't make sense - tips are income.

>>509302324
>structure their pay so that they make minimum wage (let's say $10) for the first taxable 40 hours of work every week, but for that 41st hour they make $1400 just for that hour.
I would love some of the crack you are smoking. Spoiler: nobody's pay is structured like that. You don't just randomly change your hourly pay whenever you feel like it

>>509298901 (OP)
You WILL work 120 hours a week. We're competing against CHAI-NA.

>>509303313
>you're thinking of the house version of the bill
Nope

>>509303596
>but agree with your boss to claim you worked 50
You are a moron

>>509304083
>In general.--The amount allowed as a deduction under this section for any taxable year shall not exceed $12,500 ($25,000 in the case of a joint return).
https://www.congress.gov/bill/119th-congress/house-bill/1/text

>>509303987
>that's not how it works, dipshit.
You have no clue how it works

>>509304052
You can't write a new contract with your employer, where you're paid minimum wage up to 40 hours and $XXXX for every hour thereafter? Why not? If the difference is thousands a year in federal income taxes I think more than a few will work it out.

>>509304138
The Senate version of the One Big Beautiful Bill does not explicitly describe the overtime pay deduction as being limited to a taxpayer's base tax liability in the way a non-refundable tax credit would be. Instead, as noted earlier, the provision allows an above-the-line deduction for qualified overtime compensation, capped at $12,500 for individual filers (or $25,000 for joint filers), with a phase-out for incomes above $150,000 ($300,000 for joint filers).

This deduction reduces your adjusted gross income (AGI), which in turn lowers your taxable income and, consequently, your tax liability based on your marginal tax rate. However, because it’s a deduction and not a credit, it doesn’t directly interact with your "base tax liability" in the same way a non-refundable tax credit would (i.e., it’s not limited to offsetting only the tax you owe before other credits). The benefit is simply the amount of the deduction multiplied by your tax rate, provided you stay within the income and deduction caps.

If you’re referring to a specific Senate amendment or interpretation tying the deduction to base tax liability, could you clarify or provide more details?

>>509302407
Depends entirely on the company and your line of work. Salaried positions are a choice, if a potential applicant thinks they'd be missing out on overtime pay compared to a salaried rate, they just won't accept that job/position. So salaries already have to be high enough to be compelling. On top of that, just as you don't get anything more for working more (bonuses non withstanding), you likewise do not lose anything for working less. Can take vacations, or half days and it doesn't impact your paycheck at all.

>>509304110
You don't think employers and employees conspire to defraud the government?

Tell me how the millions of illegal aliens are working currently in the US.

>>509304253
not investing any more time into a conversation with an hourly laborer retard who is copy/pasting or using chatgpt. good luck with those 'tax savings' on your overtime wageslavery wages.

>>509304309
>not investing any more time into a conversation
Concession accepted

>>509301996
It says you are eligible for the evaluation process, that is not a CPA license.

>>509304439
AHAHAHAHA you're right lol

as if people doing the payroll aren't going to be "advised" to stop the withholding tax

>>509304439
that's the exam portal with 4/4 passed. i'm not taking a screenshot of my license # so some retard can dox me on cpaverify.

>>509304707
>i'm not taking a screenshot of my license #
Because you don't have one

>>509304179
You can certainly write up an insane contract like that, your employer won't sign it though. Why would they? It would also be extremely exploitable and terrible for work effort. The employee would just fuck around doing nothing for 40hrs of the week then come in for 5 "overtime" hours on the weekend that would quadruple their pay

>>509304309
>loses
>not investing any more time into a conversation

LMFAO

>>509304012
>So you'll be refunded the money?
Lol, LMAO even
No because faggots like this >>509303987
Think then running a bespoke edition of quicken tax will fuck you over for deduction.
The entire tax code is intentionally made as confusing as possible, to make it as difficulty as possible to get a tax refund.

>>509304956
you are literally a retard who doesn't understand how tax brackets work.

>>509304707
LMAO, jeet.

>>509305068
Says the clown who lied about being a CPA lol

>>509298901 (OP)
>be in a company
>chillest fucking company ever
>work like, 6 hours a day tops
>noone says a word, never get called out for it
>annual anonymous survey shows about 60% of people self-report being "crushed under overtime" and have serious personal issues due to it
That's when i realized most people are completely fucking retarded. Just say "sure thing, I'll get to it first thing in the morning" it's literally that easy.

>>509305068
>Saars, I qualify for exam. I expert
Lol, LMAO even
Shut up jeet.

>>509305087
i'm white and blond hair, pablo. see the bucket analogy here. >>509302359 can you retarded hourly laborer ass understand this?

>>509305334
>i'm white and blond hair
Nope

>>509305334
Saars, do not redeem

>>509298901 (OP)
It lowers taxable income so poor people get less money from the earned income credit. So it saves a lot of money on welfare

>>509302359
>>509305334
Here's what this fraud isn't telling you

It’s an above-the-line deduction, meaning it reduces your adjusted gross income (AGI) before your income is sorted into those tax bracket "buckets."

>>509298901 (OP)
>Why is it a good thing?
Blump is Robin Hood in reverse, a socialist for his billionaire mates. That‘s why, dumb f**ks. Billionaires need to get even richer at your expense.

>>509305405

>>509298901 (OP)
Wages and income shouldnt be taxed in the first place.

So there's no tax free threshold in America? Is that why you guys get "standard deductions"?

>>509302407
I go through periods of working more than 40 hours a week.
I also work from home and so long as I'm attending meetings and meeting deadlines, I have substantial freedom. I can exercise, run errands, play with my kids, go out to lunch, pretty much at will. Ideally I'm within 15-30 minutes of responding to an urgent request but if I need to visit the Doctor or something I can just block it in my calendar and they have to work around my schedule.

There's also just a level of dignity in not having to punch a clock.

I'm 25 years into my career though. I do recall the first time I got "promoted" to a salary position my annual income went down. I took it, because there was better potential for growth and raises and it would look better on my resume, but it took a few years to recover the difference in lost overtime.

>>509302584
>Not really. It's realistic. Time accounting for hourly wage slaves is legitimately a waste of time. Your ability to meet a goal is more important than how many hours you actually worked.
Does depend somewhat on the position. As the other guy said, production workers are often fairly consistent and it's basically a game. May as well pay by the hour.
Service workers are often paid hourly because they're being paid at least in part, for availability (eg bank teller). It's the owner/manager's job to schedule capacity appropriately.

>>509304012
Yeah he's a moron. You can also claim exemptions if you don't want income taxes withheld from payroll. It just means you're on the hook to pay during tax season instead of getting a refund like a normal wagie.

>>509303859
You would still be taxed on your overtime
Say you make 20 dollars an hour and your over time pay is 30 dollars an hour. During overtime you are taxed on the 20 dollar base rate but the extra 10 dollars for that hour is not taxed, up to 12,500 dollars. You would get an extra 12500 in federal tax deduction, not state, which is nice but far from what your expecting. Trump is still a jew

>>509307993
oh that's gay

>>509298901 (OP)
stop doubting the big beautiful president's big beautiful decisions and go be a good big beautiful wagie

>>509305334
I know you are telling the truth. Everything you said checks out. And, like you said, the taxes increase only on the amount ABOVE the next lowest tax bracket. What a complicated system, and to think 100 years ago there was no income tax.

>>509303944
I'm glad you have such excelent reading comprehension. It happened to me as a youth, if it wasn't the tax then what was it (the numbers said it was the tax as that was the only thing that was taking out such a massive amount of pay). It wasn't exactly the numbers I posted but it was an example of how the numbers worked.

>>509310961
I'm not crunching your numbers nor do I care, I'm just telling you that how tax brackets work has not changed in a very long time.