I laughed my ass off when my racist uncle smugly explained that he turned down a raise, because that would put him in an upper tax rate and cost him more money than the raise was worth.

Tried to explain how income tax works. Didn't go through that thick skull of his.

[–] jumjummy@lemmy.world 1 points 2 months ago (1 children)

Except you’re ignoring tax credits. There are a slew of tax credits that only apply at certain income levels and below. It is very possible that you can suddenly no longer qualify for a credit by getting a small raise which is less than what the credit would have given you.

Always consult a tax advisor.

[–] RichardDegenne@lemm.ee 6 points 2 months ago

Ah sorry, I live in a country where we don't require every single citizen to hire an accountant to file their taxes.

My condolences.

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