57% is the tax on “one-time gains” - bonuses and other such things.
This means that you’re probably overpaying on it, but you might also be underpaying on your income taxes (usually ~30% even if you reach the ~50%-tax bracket). Worst case scenario, you’ve lent some money interest-free to the government that you get back on your tax returns.
57% is the tax on “one-time gains” - bonuses and other such things.
This means that you’re probably overpaying on it, but you might also be underpaying on your income taxes (usually ~30% even if you reach the ~50%-tax bracket). Worst case scenario, you’ve lent some money interest-free to the government that you get back on your tax returns.
You can borrow from someone else. When someone else borrows from you, you lend it. Or lent as the past tense
Thanks, updated. I think my mistake stems from Swedish only having one word for the concept, regardless of the direction of the transaction.
I’ve noticed a lot of my european friends doing the same
I think the only english-speaking people in North America who know this read Hamlet in high school.
Are people not reading Hamlet in high school now? What was the cutoff for 16th century literature, 2021?
Like PE, it’s all optional now.
Ish…
They could have said “you have let the government borrow from you tax free.”
But yeah, the general idea holds.