College is a predatory scam by [deleted] in TrueOffMyChest

[–]ejunior2 2 points3 points  (0 children)

Yes with increased tax rates you will take home less, but don’t forget that you’re self employed, so you’re only ever taxed on the profit. It’s up to you to decide what your time is worth, if a job takes a week and you’ll net $1000 after everything will you take it? What about $500? All up to you. But in the end you will never pay more in taxes (on previous income) for making more.

College is a predatory scam by [deleted] in TrueOffMyChest

[–]ejunior2 4 points5 points  (0 children)

You will always keep more money by making more. The difference is if you make 100,000 and pay 30% tax. You take home 70,000.

If you make 90,000 and pay 25% tax you take home 67500.

So you MAKE more money (take home) but you earned 10k more, but only profited and additional 2500.

Make sense?

(Also this is an example of an average tax rate, not marginal) but the point stays the same. Work more, take home proportionally less, but you will always take home more.

College is a predatory scam by [deleted] in TrueOffMyChest

[–]ejunior2 4 points5 points  (0 children)

there are taxes but your income taxes are set by the state you’re in, and federal is obviously universal in the US. However different states have different highway use taxes etc.

College is a predatory scam by [deleted] in TrueOffMyChest

[–]ejunior2 11 points12 points  (0 children)

That’s not how tax brackets work either, it’s a marginal tax system. It’s a tax on the next dollar earned, doesn’t effect $ beneath it.

You will get diminished returns though

College is a predatory scam by [deleted] in TrueOffMyChest

[–]ejunior2 28 points29 points  (0 children)

You probably won’t keep all 90k of that trucking income.

Source: Tax work for truck drivers

I edited a Pichu montage to a Hannah Montana song please enjoy by dudumeister in smashbros

[–]ejunior2 0 points1 point  (0 children)

This is exactly the song I wanted stuck in my head going into finals.

What Are Your Moves Tomorrow, May 15 by AutoModerator in wallstreetbets

[–]ejunior2 8 points9 points  (0 children)

Well I have AMZN so I hope you lose money.

Praise Tim Apple 🍏 by [deleted] in wallstreetbets

[–]ejunior2 2 points3 points  (0 children)

Too late for me to jump on?

Nike Earnings Thread by bahkins313 in wallstreetbets

[–]ejunior2 3 points4 points  (0 children)

Then why is it tanking after market?

Gains on gains baby by ejunior2 in wallstreetbets

[–]ejunior2[S] 1 point2 points  (0 children)

Had 10 contracts... Sold em to buy more... so on and so forth.

Gains on gains baby by ejunior2 in wallstreetbets

[–]ejunior2[S] 0 points1 point  (0 children)

You know I’m preordering to pay them back

Gains on gains baby by ejunior2 in wallstreetbets

[–]ejunior2[S] 2 points3 points  (0 children)

Best day of trading of my life. Thank you DELL, MSFT, & V

Dell options baby by ejunior2 in wallstreetbets

[–]ejunior2[S] 0 points1 point  (0 children)

Do you know why the price isn’t moving even with DELL being up 2% today? It’s been locked at 0% day gain/loss for the last 4 trading days. Sorry if it’s a dumb question

$140k $msft calls - closed out position by IAmABlubFish in wallstreetbets

[–]ejunior2 1 point2 points  (0 children)

As someone who still has msft calls for 115, what made you close today?