I can't afford to go back to work

MQAAord

MQAAord

Scheherazade
Staff member
I can\'t afford to go back to work

Seriously.

I have an interview scheduled for next week with Air Wisconsin to be a F/A instructor here in ORD. But during the phone interview I was told the starting salary was $30,000. That's roughly what we're losing with the pay cuts. Trouble is, that $30,000 will put us back up in the higher tax bracket (the big-jump tax bracket, a difference of over $15,000), and with the added costs of day care & transportation to/from work everyday (gas, tolls, etc) we would literally not make anymore money with me working.

I swear I did the math right, and I just can't believe it. I can't afford to go back to work. I really didn't want the kiddos to be in full time day care anyway, I was only looking into this so I could help with the $ situation. But I'm actually a little bummed in a way. Just feeling a bit sorry for myself that I can't contribute.

Blah. The rantings of a hormonal pregnant woman. Like they'd hire me anyway. Not the most marketable position to be in.
 
Re: I can\'t afford to go back to work

[ QUOTE ]
Seriously.

I have an interview scheduled for next week with Air Wisconsin to be a F/A instructor here in ORD. But during the phone interview I was told the starting salary was $30,000. That's roughly what we're losing with the pay cuts. Trouble is, that $30,000 will put us back up in the higher tax bracket (the big-jump tax bracket, a difference of over $15,000), and with the added costs of day care & transportation to/from work everyday (gas, tolls, etc) we would literally not make anymore money with me working.

[/ QUOTE ]Do you know that the higher tax bracket only applies to the incremental income over the bracket threshold? It does not apply to all of your income. In other words, if the brackets look like this:

$0-$10,000 -- 10%
$10,001-$20,000 -- 20%

And you make $15,000. You'd pay $2,000 in taxes, not $3,000.

($10,000 * 10%) + ($5,000 * 20%) = $2,000.

I don't know your exact situation (don't need to know), but I don't think an increase in pay of $30,000 could possibly result in an increase in taxes of $15,000.

Hope this is helpful.
MF
 
Re: I can\'t afford to go back to work

DO NOT EVER REJECT A HIGHER PAYING JOB OR A RAISE BECAUSE OF "BEING BUMPED UP TO THE NEXT TAX BRACKET." It works like Minnesota_Flyer said.
 
Re: I can\'t afford to go back to work

Don't shout at me.

Like I said, I understand what he is saying. In addition to the higher taxes we would ALSO have the added (new!) expense of two kids in day care.

Edit to add: I'm also not talking about EVERYONE'S situation here, I'm talking about MY specific situation, with my family's 'numbers'.
 
Re: I can\'t afford to go back to work

I didn't mean to shout, I just wanted to make sure anyone who read your post saw it because I have known of people who thought they should not accept a raise because they would be paying more taxes in the next bracket.
 
Re: I can\'t afford to go back to work

Well, get rid of the kids, then you can afford to take the new job
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Re: I can\'t afford to go back to work

Yeah, yeah, get rid of the kids, why didn't I think of that!

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Seriously, how could I even think about getting 'rid' of something as cute as this:

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Re: I can\'t afford to go back to work

Cute like he finds things and destroys them? Man you woulda loved me as a kid
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Re: I can\'t afford to go back to work

Emily

Hehehehe! Me no have kids, trade in the kid for a sports car.
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Re: I can\'t afford to go back to work

[ QUOTE ]
Cute like he finds things and destroys them? Man you woulda loved me as a kid
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[/ QUOTE ]

Nah, he doesn't destroy everything. That was just the day he found the toilet paper.
 
Re: I can\'t afford to go back to work

[ QUOTE ]
Don't shout at me.

Like I said, I understand what he is saying. In addition to the higher taxes we would ALSO have the added (new!) expense of two kids in day care.

Edit to add: I'm also not talking about EVERYONE'S situation here, I'm talking about MY specific situation, with my family's 'numbers'.

[/ QUOTE ]

But don't you get day care money back?
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Re: I can\'t afford to go back to work

Perhaps, but you don't get the time with your kids back. That stinks, Amber. I'm sorry. I'm sure that part of you wants to go back to work just to be back in it, too.
 
Re: I can\'t afford to go back to work

Well, you can fly into AZO and I will be Mr. mom for the morning (I have a 4 years old daughter). In the evening hour, you can fly back to pick him up. Just kidding, Amber.

The question I would ask myself if I am in your situation, where I can save some money? By the way, talk to whoever does your taxes. I think you should be able to get some tax return if you log down how many milages you have to travel to your work, if you are a home owner.

Another question I would ask is what I am going to do in 5 years. In about 6 years or so, you children are going to school. Would you like to sit in the house all day long? watching ABC "deperated house wife"
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(Sorry, could not resist, just kidding !!) Or would you like to go back to work as FA?

I hope this help a little

adreamer
 
Re: I can\'t afford to go back to work

[ QUOTE ]
But don't you get day care money back?
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[/ QUOTE ]

Get the money back? Back from where?


adreamer: I wish I spent my time just "sitting around the house....watching Desparate Housewives". Stay-at-home-mom is damn hardest job I've every had, and this is from someone who spent 6 years at Eagle!

My plan is to do the ATP thing (here at Aurora) when the kids hit full-time school age. However, as I learned post 9/11, plans change. All you can do is pencil-out a rough outline for your future, get the eraser out now and then to change it, and fill in the blanks as you go. I really can't speak for myself 5 or 6 years from now, as to whether I'd want to be a F/A again. Many people have asked if I'd accept a recall letter (not that that is likely to happen anytime soon) and my answer right now is no, I can't.

I miss flying terribly (actually flying , that is) but like I tell myself often, my babies are only young once, airplanes will always be there for me to fly..
 
Re: I can\'t afford to go back to work

[ QUOTE ]
My plan is to do the ATP thing (here at Aurora) when the kids hit full-time school age

[/ QUOTE ]
I didn't know you had aspirations to be a pro pilot. Good stuff. That's cool..........and I totally understand the whole thing with the daycare. A) being, you just don't want the kids in daycare at all. B) being, unless you make over a certain amount (like $50-60K +), it just doesn't make any sense at all!
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Re: I can\'t afford to go back to work

[ QUOTE ]
[ QUOTE ]
But don't you get day care money back?
confused.gif



[/ QUOTE ]

Get the money back? Back from where?


adreamer: I wish I spent my time just "sitting around the house....watching Desparate Housewives". Stay-at-home-mom is damn hardest job I've every had, and this is from someone who spent 6 years at Eagle!

My plan is to do the ATP thing (here at Aurora) when the kids hit full-time school age. However, as I learned post 9/11, plans change. All you can do is pencil-out a rough outline for your future, get the eraser out now and then to change it, and fill in the blanks as you go. I really can't speak for myself 5 or 6 years from now, as to whether I'd want to be a F/A again. Many people have asked if I'd accept a recall letter (not that that is likely to happen anytime soon) and my answer right now is no, I can't.

I miss flying terribly (actually flying , that is) but like I tell myself often, my babies are only young once, airplanes will always be there for me to fly..

[/ QUOTE ]

Your taxes mama! Your Taxes...

My wife and I got all our day care money back, back when Nicole was in day care.
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Re: I can\'t afford to go back to work

I actually went to ATP at Aurora for my interview with their program. I agree with you. I spent a lot of time when I was driving there to find change(for toll road).


adreamer
 
Re: I can\'t afford to go back to work

Yea I thought you could deduct day care expenses from your taxable income, based on some sort of percentage thing. That's according to my brother who has a kid in day care. See your tax preparer on that one.

Mike



[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
But don't you get day care money back?
confused.gif




[/ QUOTE ]

Get the money back? Back from where?




[/ QUOTE ]

Your taxes mama! Your Taxes...

My wife and I got all our day care money back, back when Nicole was in day care.
spin2.gif


[/ QUOTE ]
 
Re: I can\'t afford to go back to work

wait a minute...you have another kid growing inside you and you said you're mad that you aren't contributing? I think that's far from the truth :-)
 
Re: I can\'t afford to go back to work

[ QUOTE ]
you have another kid growing inside you and you said you're mad that you aren't contributing? I think that's far from the truth :-)

[/ QUOTE ]

It is very expensive to raise a child. Think about this - baby proof the house, diapers. Few years later, prepare your child for going to school. My head starts hurting again.
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adreamer
 
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