43% is your marginal bro

165k+

But I'm only 8mo in. And about to have month and a half off. Have banked 260~ double time hours in the epcor bank that I'll be withdrawing on the 24th. Should have a monster 18k cheque lmao

This post was edited by Subzer0isGG on Dec 2 2021 05:47pm

Anything single malt

You don’t pay 43% on all of it.

Huh? Elaborate. Thinking this year I need to find a good accountant

This post was edited by Subzer0isGG on Dec 2 2021 08:24pm

tell me about it
i often pay 2k + taxes per week

It's a marginal tax rate, so you're not paying 43% for the entire 160k and taking home only like 90k lol.

You pay 43% on anything above like 120k for example, so the 40k would be taxed at 43%. The 120k u made would be at a lower tax rate.

u shd expect around 110k. So ur paying about 50k in taxes.

There's also union dues, stocks, cpp, ei, and other deductions etc. Making like 10k and bringing home 6k always feels bad but ur still making dough so whatever

This post was edited by Secksii on Dec 2 2021 10:33pm

setting up automatic deductions are great. whenever I think I'm poor because I see what's left over, it takes me a few seconds to realize like "orite I have a pension and investments lol"

if your making over 100k and you dont have a tax person, your fuckin up imo

Turbo tax and save 30k to Maxx rrsp contribution to bring down net earning. Really all you need to know here in Canada.