WeAAsles
Veteran
- Oct 20, 2007
- 23,149
- 5,237
Can we get some specifics?
I think this might be what you were looking for?
https://teamster.filecamp.com/0/teamster/binary/25mt-m97sj6gt.pdf
Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
Can we get some specifics?
Thanks manI think this might be what you were looking for?
https://teamster.filecamp.com/0/teamster/binary/25mt-m97sj6gt.pdf
Having taken the AA buyout I can tell you taxes put a huge dent in takehome and counting on the medical prefund match to offset will probably never happen.Heck if they would offer me a buy-out worth 1 years salary right now I would take it and move on in a heart beat...
Due to the complexity of this country's tax code and your financial situation it's hard to give a straight forward answer how you would come out. My lump sum was approx. $52k and they deducted taxes at the 28% rate. Yes, it did bump my wife and I's income for the year to a higher tax bracket and we wound up paying half of the $52k in taxes. $100k lump sum would have raised those rates considerably.Let me ask you this. Is a buy-out taxed any differently than our regular income rates? The fact that it is a large sum at once makes for a higher tax bracket for the year. I would expect with receiving 100K on top of your regular income (depending on when you leave) would put us in the 28-35% range would it not? Just going by a guess here as I do not know the tax law numbers by memory. Some might get as high as 39% maybe. Can you give an idea of what the tax % was on yours? And maybe how much of your regular pay was added in for the entire year that you received the buy-out? Just trying to get an idea of how much of the 100K buy-out would have to be set aside for tax reasons. sorry if some of this is a little personal but please only reveal whatever you want to, thx for any info..
When will the numbers be out on how many AMT's opted for the buyout?
Due to the complexity of this country's tax code and your financial situation it's hard to give a straight forward answer how you would come out. My lump sum was approx. $52k and they deducted taxes at the 28% rate. Yes, it did bump my wife and I's income for the year to a higher tax bracket and we wound up paying half of the $52k in taxes. $100k lump sum would have raised those rates considerably.
Many who took the early out package at AA wound up seeking employment elsewhere making much less. For the record I'm already making more at WN than when I left ($14 an hour less to date than if I'd stayed). This may sound ridiculous but I would do it again in a heartbeat since I was so disgrutled. In my opinion, unless your within a couple of years till retirement AND a pension whether at UA, AA, or WN, leaving at $47+ and hour with benefits for a lump sum may not be the best solution.
Due to the complexity of this country's tax code and your financial situation it's hard to give a straight forward answer how you would come out. My lump sum was approx. $52k and they deducted taxes at the 28% rate. Yes, it did bump my wife and I's income for the year to a higher tax bracket and we wound up paying half of the $52k in taxes. $100k lump sum would have raised those rates considerably.
Many who took the early out package at AA wound up seeking employment elsewhere making much less. For the record I'm already making more at WN than when I left ($14 an hour less to date than if I'd stayed). This may sound ridiculous but I would do it again in a heartbeat since I was so disgrutled. In my opinion, unless your within a couple of years till retirement AND a pension whether at UA, AA, or WN, leaving at $47+ and hour with benefits for a lump sum may not be the best solution.