Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just get a job that pays more than $13/hour. But you know that. You just don't want to work. That's why you get $13

OP it seems like at this time of night you get a lot of anti-women, incel-like comments like this one. Ignore them.

It's a valid comment. What grown woman is ok with $13/hour? My house cleaner gets $200-250 in 3 hours. Nannies are paid more. Starbucks baristas 1st day on the job. Can get certifications, like radiology tech or dental assistant or something. It's very strange to give up on working because "I only earn $15k." That's just being willfully dense. My husband hires teens who earn more.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Your contract work requires you to pay self employment taxes. That rate has nothing to do with the income tax bracket. The self employment tax would normally be paid by your "employer", and since you are your employer, you have to pay that portion.

-signed a self employed contractor.

She’s not self-employed. She works at Starbucks.

My bad. I read "is a contractor". That's what I get for speed reading without coffee.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:He's wrong. It's really like 23% plus FICA, Medicare and state tax.

To be fair that will be almost 35% in total.

Marginal, maybe. Not effective. Learn the difference.

Anonymous wrote:I’m literally baffled at how many adults don’t know how taxes work and think ‘if I make more I’ll take home less bc taxes’

Y’all need to educate yourselves, badly.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm trying to figure this out. Spouse makes 160k with a bonus. I would earn 15k. He's saying I would be taxed 35 percent, just like him. My work doesn't take it all out, so come tax season, we would owe the difference. My work takes out whatever is "normal." I'm not considered a contractor. Paying 5k in taxes seems excessive for my small salary. I don't see any of the 160k. My husband takes care of the mortgage and everything else, and he says there's not much left over. Does it ever make sense not to work in cases like these? I enjoy working but work full days hourly, three days a week so it is a lot of time for not a lot of money.

if you file together and have joint income then its taxed as a joint pot....? Each dollar over a certain amount is taxed at a higher percentage and you are taxed on AGI, not total income. Is he telling you that your 15k coming in is taxed at 35% in isolation because that's a dumb way of looking at it and I am not even sure the 35% is correct- although maybe he means combined with state?

Your combined income is taxed according to the following brackets if married filling joint:

$0 – $20,550 10%
$20,551 – $83,550 $2,055 + 12% of the amount over $20,550
$83,551 – $178,150 $9,615 + 22% of the amount over $83,550
$178,151 – $340,100 $30,427 + 24% of the amount over $178,150
$340,101 – $431,900 $69,295 + 32% of the amount over $340,100
$431,901 – $647,850 $98,671 + 35% of the amount over $431,900
$647,851 or more $174,253.50 + 37% of the amount over $647,850


So you could just as easily say your 15k being the first 15k is taxed at 0%.

Wow!
I am a very intelligent and educated person and I have no idea that this is how taxes are calculated. Good news is that my DH does, as he is the family CFO and a finance exec and our family CFO. What class is this - Personal finance, Economics, etc? I have a lot of time on my hands and would love to google and learn.

Intelligent and educated people don't need to explicitly say they are. It usually comes across (not in this case, at all). Also, saying your husband is family CFO is cringe-worthy and not something you want to ever tell someone.

Please develop some social graces. Also, a simple web search on basic personal finances can tell you everything you need to know in that department. Surely you know how to Google?

Sorry for being rude, but your behavior is exceedingly strange for an adult with kids. At 19 I came to this country, went to grad school and filed my own taxes, despite being parachuted into a system and language that were not my own. If I can do it, so can you.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You can also usually request that they take out extra for your taxes in your paycheck (if you don't want to owe money later).

For your question "Is it worth it?". I guess you have to ask yourself if it's worth all of that time for an extra 10K. What would you be doing otherwise if you didn't work?

I work on the weekends and evenings, so it's time away from my kids, who are toddlers, and my husband. Because I get home so late, we sleep separately.

To me, that sounds like giving up the most important parts of your life to make less than 1K a month. Unless you really need that extra income.

Sounds to me like they are house poor.

Only because they’re dumping an extra $1100 a month into the mortgage and $800 into investments. Not sure what that is - 529s? Roth IRAs? I’m all for saving money, but this is not being done as a joint effort. Op shouldn’t feel guilty about getting a haircut when they’re setting aside nearly $2k a month.

Paying the mortgage early, saving money and building wealth are more important than getting a haircut. They have the right mindset.
She is working a low paying job to earn extra income instead of sitting at home watching TV. That’s also the right mindset.

Anonymous wrote:Has anyone figured out that OP is a troll?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You can also usually request that they take out extra for your taxes in your paycheck (if you don't want to owe money later).

For your question "Is it worth it?". I guess you have to ask yourself if it's worth all of that time for an extra 10K. What would you be doing otherwise if you didn't work?

I work on the weekends and evenings, so it's time away from my kids, who are toddlers, and my husband. Because I get home so late, we sleep separately.

To me, that sounds like giving up the most important parts of your life to make less than 1K a month. Unless you really need that extra income.

Sounds to me like they are house poor.

Only because they’re dumping an extra $1100 a month into the mortgage and $800 into investments. Not sure what that is - 529s? Roth IRAs? I’m all for saving money, but this is not being done as a joint effort. Op shouldn’t feel guilty about getting a haircut when they’re setting aside nearly $2k a month.

Paying the mortgage early, saving money and building wealth are more important than getting a haircut. They have the right mindset.
She is working a low paying job to earn extra income instead of sitting at home watching TV. That’s also the right mindset.

+1 Maybe the DH is going about everything wrong, but what he is doing will serve them in the end. I tell my husband when he's gone over his restaurant limit. Saving for college is much more important that eating unhealthy food. Sometimes someone has to be in charge of the big picture and financial details. He agrees with me but hates details, so it works for us. In OP's case, I'd insist on a biweekly budget meeting and go over investment returns at least quarterly. She should know all the details.

Saving for college is more than eating healthy food. What are you smoking?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You can also usually request that they take out extra for your taxes in your paycheck (if you don't want to owe money later).

For your question "Is it worth it?". I guess you have to ask yourself if it's worth all of that time for an extra 10K. What would you be doing otherwise if you didn't work?

I work on the weekends and evenings, so it's time away from my kids, who are toddlers, and my husband. Because I get home so late, we sleep separately.

To me, that sounds like giving up the most important parts of your life to make less than 1K a month. Unless you really need that extra income.

Sounds to me like they are house poor.

Only because they’re dumping an extra $1100 a month into the mortgage and $800 into investments. Not sure what that is - 529s? Roth IRAs? I’m all for saving money, but this is not being done as a joint effort. Op shouldn’t feel guilty about getting a haircut when they’re setting aside nearly $2k a month.

Paying the mortgage early, saving money and building wealth are more important than getting a haircut. They have the right mindset.
She is working a low paying job to earn extra income instead of sitting at home watching TV. That’s also the right mindset.

+1 Maybe the DH is going about everything wrong, but what he is doing will serve them in the end. I tell my husband when he's gone over his restaurant limit. Saving for college is much more important that eating unhealthy food. Sometimes someone has to be in charge of the big picture and financial details. He agrees with me but hates details, so it works for us. In OP's case, I'd insist on a biweekly budget meeting and go over investment returns at least quarterly. She should know all the details.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You can also usually request that they take out extra for your taxes in your paycheck (if you don't want to owe money later).

For your question "Is it worth it?". I guess you have to ask yourself if it's worth all of that time for an extra 10K. What would you be doing otherwise if you didn't work?

I work on the weekends and evenings, so it's time away from my kids, who are toddlers, and my husband. Because I get home so late, we sleep separately.

To me, that sounds like giving up the most important parts of your life to make less than 1K a month. Unless you really need that extra income.

Sounds to me like they are house poor.

Only because they’re dumping an extra $1100 a month into the mortgage and $800 into investments. Not sure what that is - 529s? Roth IRAs? I’m all for saving money, but this is not being done as a joint effort. Op shouldn’t feel guilty about getting a haircut when they’re setting aside nearly $2k a month.

Paying the mortgage early, saving money and building wealth are more important than getting a haircut. They have the right mindset.
She is working a low paying job to earn extra income instead of sitting at home watching TV. That’s also the right mindset.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You can also usually request that they take out extra for your taxes in your paycheck (if you don't want to owe money later).

For your question "Is it worth it?". I guess you have to ask yourself if it's worth all of that time for an extra 10K. What would you be doing otherwise if you didn't work?

I work on the weekends and evenings, so it's time away from my kids, who are toddlers, and my husband. Because I get home so late, we sleep separately.

To me, that sounds like giving up the most important parts of your life to make less than 1K a month. Unless you really need that extra income.

Sounds to me like they are house poor.

Only because they’re dumping an extra $1100 a month into the mortgage and $800 into investments. Not sure what that is - 529s? Roth IRAs? I’m all for saving money, but this is not being done as a joint effort. Op shouldn’t feel guilty about getting a haircut when they’re setting aside nearly $2k a month.

Paying the mortgage early, saving money and building wealth are more important than getting a haircut. They have the right mindset.
She is working a low paying job to earn extra income instead of sitting at home watching TV. That’s also the right mindset.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You can also usually request that they take out extra for your taxes in your paycheck (if you don't want to owe money later).

For your question "Is it worth it?". I guess you have to ask yourself if it's worth all of that time for an extra 10K. What would you be doing otherwise if you didn't work?

I work on the weekends and evenings, so it's time away from my kids, who are toddlers, and my husband. Because I get home so late, we sleep separately.

To me, that sounds like giving up the most important parts of your life to make less than 1K a month. Unless you really need that extra income.

Sounds to me like they are house poor.

Only because they’re dumping an extra $1100 a month into the mortgage and $800 into investments. Not sure what that is - 529s? Roth IRAs? I’m all for saving money, but this is not being done as a joint effort. Op shouldn’t feel guilty about getting a haircut when they’re setting aside nearly $2k a month.