Revisions
Edited 2h ago by
gumby
@bigunionguy said ↗@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."Its unfortunate tgst we cant put some of that money into thethr 401k
Rendered before/after
Before
@gumbySaw 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."
Its unfortunate tgst we cant put some of that money into thr 401k
After
@gumbySaw 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."
Its unfortunate tgst we cant put some of that money into the 401k