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Discussion Boards => Off-Topic => Debate & Discuss => Topic started by: Ittai on December 05, 2011, 07:14:29 pm
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:icon_rr: Its that time of year when everyone spend more money and the only way to spend more money is to work more hrs or part time job :icon_rr:
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What is considered overtime anymore? I am self employed but I noticed on a lot of these surveys they list 30 hours as full time and I never qualified that as enough for full time. I used to put in some serious hours on jobs that allowed for as much overtime as you wanted and had many 112 hour weeks.
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What is considered overtime anymore? I am self employed but I noticed on a lot of these surveys they list 30 hours as full time and I never qualified that as enough for full time. I used to put in some serious hours on jobs that allowed for as much overtime as you wanted and had many 112 hour weeks.
Normally, overtime is anything over 40 hours per week while fulltime is nominally considered to be 32 or more hours per week.
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What is considered overtime anymore? I am self employed but I noticed on a lot of these surveys they list 30 hours as full time and I never qualified that as enough for full time. I used to put in some serious hours on jobs that allowed for as much overtime as you wanted and had many 112 hour weeks.
Normally, overtime is anything over 40 hours per week while fulltime is nominally considered to be 32 or more hours per week.
Thank you for the info. While I was aware of the overtime beyond the 40, I for some reason considered 40 to be full time and anything less to not be. I did use to love the overtime though as there is nothing like getting nearly a months pay in a week, although it wasn't something I could sustain permanently and would have to take 'typical' week breaks here and there.
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I for some reason considered 40 to be full time and anything less to not be. I did use to love the overtime though as there is nothing like getting nearly a months pay in a week, although it wasn't something I could sustain permanently and would have to take 'typical' week breaks here and there.
Understood. At one time, I had a position where I could work as much overtime as I could stand so, I wanted to see how much I could stand. After trying a month of 108 overtime hours, it wasn't really worth the extra cash after taxes.
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You really have to watch the overtime, after a certain point your shift just becomes paying taxes and not of any real benefit to you.
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You really have to watch the overtime, after a certain point your shift just becomes paying taxes and not of any real benefit to you.
I realized that myself, so I try not to work more than 10 hours overtime. Especially since my supervisor finally told me that the overtime wasn't mandatory, as I had previously thought!
This illustrates why we need to have a flat tax code, or at least have different bracketing. Someone trying to better themselves shouldn't be penalized for working too much! I can see having brackets for the super rich, but not for people who actually earn their living.
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You really have to watch the overtime, after a certain point your shift just becomes paying taxes and not of any real benefit to you.
I realized that myself, so I try not to work more than 10 hours overtime. Especially since my supervisor finally told me that the overtime wasn't mandatory, as I had previously thought!
This illustrates why we need to have a flat tax code, or at least have different bracketing. Someone trying to better themselves shouldn't be penalized for working too much! I can see having brackets for the super rich, but not for people who actually earn their living.
No one is being penalized for working too much. Overtime wages aren't taxed at a higher rate. I really don't where people come up with this because it isn't the case.
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You really have to watch the overtime, after a certain point your shift just becomes paying taxes and not of any real benefit to you.
I realized that myself, so I try not to work more than 10 hours overtime. Especially since my supervisor finally told me that the overtime wasn't mandatory, as I had previously thought!
This illustrates why we need to have a flat tax code, or at least have different bracketing. Someone trying to better themselves shouldn't be penalized for working too much! I can see having brackets for the super rich, but not for people who actually earn their living.
No one is being penalized for working too much. Overtime wages aren't taxed at a higher rate. I really don't where people come up with this because it isn't the case.
No one said overtime wages are taxed at a higher rate. You cannot argue, unless you are ignorant as to how wages vs taxes works, that the more money you make, the more you pay in taxes.
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No one is being penalized for working too much. Overtime wages aren't taxed at a higher rate. I really don't where people come up with this because it isn't the case.
No one said overtime wages are taxed at a higher rate. You cannot argue, unless you are ignorant as to how wages vs taxes works, that the more money you make, the more you pay in taxes.
It was strongly implied. The quote was that "after a certain point your shift just becomes paying taxes and not of any real benefit to you", which is never going to be the case. I have worked in payroll and used to hear the same things back then so it always makes me roll me eyes. Of course, the more you make, the more you pay in taxes. But, have you heard of someone turning down a raise because they didn't want to pay more in taxes? I doubt it. Again, it is just the flawed logic people on overtime and taxes that just irritates me. It still going to benefit you financially, just like a normal raise would.
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No one said overtime wages are taxed at a higher rate. You cannot argue, unless you are ignorant as to how wages vs taxes works, that the more money you make, the more you pay in taxes.
Unless the amount of overtime pay bumps one up into a higher tax bracket, it normally isn't taxed at a higher rate. If it does increase gross earned income enough to engender a higher tax bracket basis, one will pay more in overall taxes however, taxes will never absorb everything gained by overtime wages.
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You have to watch working overtime, if you're not careful you could wind up working a few shifts that will just be eaten up in taxes.
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I used to work overtime a lot at one of my old jobs. It was okay money, but I went overboard on the hours. Over the holidays when I worked this job I worked every day for 3 weeks straight with most of those days being 15 hours....needless to say it was good pay, but it took its toll on me both physically and mentally.
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Overtime can be great, but the above comment is correct that you have to watch the taxes. In general more is more. However, I'm salary with no overtime options. I find that there are other ways to get some extra cash--such as this cool website. I also support reselling clothes at boutiques, and I have done that bio-plastics where they take the white blood cells out for cash, you get yoru blood back.
I quit that because of health reasons, but I do recommend it. The money can be $50 a week, and for me I enjoy reading it was a nice break to sit there and read and get paid :)
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I used to work a 36 1/4 hour work week and that was conisedered full time because we got paid for our lunch (45 minutes) and you would get paid the overtime rate once you went over 40 hours in one week or 80 hours in a 2 week pay period...you would get paid your normal hourly rate up until 40 hours. This was a nice benefit. Recently the company I work for changed it to a true 40 hour work week (no longer getting paid for lunch) and then you get paid overtime for working over the standard 40 hours.
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I used to work alot of overtime and the paychecks made it so worth it. Now, most jobs are refusing to pay overtime. I have a job that will pay overtime if they are desperate for someone to work but they are always cutting hours at this time of year. I am working a full-time job (which is usually 36-38 hours a week) and one job where I get 24-28 hours a week to pay the bills...I lose alot of sleep but the bills are getting paid. I'm hoping for a promotion at the one job and then I can afford to quit my night job but it doesn't look like there's any room for advancement at this time there. So, it is what it is until I can find something that works out better.
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I don't think overtime will apply to most people anymore. Lots of places, including my job are cutting back hours. We need to start bringing back some money to the us.