Revisions
Edited 3h ago by
bigunionguy
@gumby Saw this observation posted :"WithWith a $150,000 buyout and an estimated 30% tax withholding ($45,000), you are left with $105,000. Because this additional $105,000 in annual income is on top of your earned wages, your tax liability will likely increase to 32% rather than 24%.In reality, the total tax rate would be approximately 38%. This means that out of the original $150,000, you would ultimately be left with an estimated $93,000.To leave a secured job with great benefits for $93,000 is insane in my opinion.-Update: This was meant for workers that have a long way to retire not workers that are on their way out. Sorry about the confusion."confusion.
Rendered before/after
Before
@gumby
With a $150,000 buyout and an estimated 30% tax withholding ($45,000), you are left with $105,000. Because this additional $105,000 in annual income is on top of your earned wages, your tax liability will likely increase to 32% rather than 24%.
In reality, the total tax rate would be approximately 38%. This means that out of the original $150,000, you would ultimately be left with an estimated $93,000.
To leave a secured job with great benefits for $93,000 is insane in my opinion.
-
Update: This was meant for workers that have a long way to retire not workers that are on their way out. Sorry about the confusion.
After
@gumby
Saw this observation posted :
"With a $150,000 buyout and an estimated 30% tax withholding ($45,000), you are left with $105,000. Because this additional $105,000 in annual income is on top of your earned wages, your tax liability will likely increase to 32% rather than 24%.
In reality, the total tax rate would be approximately 38%. This means that out of the original $150,000, you would ultimately be left with an estimated $93,000.
To leave a secured job with great benefits for $93,000 is insane in my opinion.
-
Update: This was meant for workers that have a long way to retire not workers that are on their way out. Sorry about the confusion."