And to whomever said "never turn down income", I found out the hard way that "overworking" is rediculous financially.
If I work 62 hours per week vrs 75, I make exactly the same.
Overtime can be a real bitch if you work too much
This makes zero sense. "I earn time and a half for another 13 hours per week, but I don't make anymore money." Unless your boss is stealing from your pocket, this cannot be true.
This isn't how taxes work (excluding deductions and credits). As a Canadian, you pay 15% on the first $48,535 of your taxable income, THEN you pay 20.5% on the next $48,534 of taxable income you may earn, and so on. Unless you are getting some specific credit/deduction, there is no reason to turn down more money.
And, even then it probably isn't worth it. I've had people tell me not to pay my student loans because I get a tax deduction. Great. I'll pay 2K in interest and then gov will give me a 300 tax deduction. I'm glad I "saved" 300 dollars on my taxes by giving a ton of money to a private mega corp.
My boss makes 200K (absurd), some people assume (not counting deductions or credits) she would have to pay 24% of her income, which is completely wrong and not how brackets work. Due to the bracket system, she'll pay 18% of her total income in fed taxes.
I will just barely make it into the next tax bracket this year. However, this means out of all of my income only the last 6K will be taxed at the higher level. I make a lot more by accepting money than I would by turning it down.