Quote:
Originally Posted by OrangeBlossomBaby
I never got any tax writeoffs as an employed person, in or out of a union.
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Of course you did. You were responding to DAVES comment about untaxed benefits. Did you not have employer provided medical and dental coverage? Was the value of the premiums paid by your employer on your behalf taxed in any way? Umm, no.
So if you were making $20/hour
salary, and the premiums were the equivalent of another $4/hour, that portion of compensation flowed to you tax free as a phantom "writeoff".
Keep in mind that if you weren't given medical, dental, and probably other benefits (life insurance?, disability insurance?, food?), you would pay for those things with
after tax dollars. Also, you theoretically could have been paid $24/hour instead of $20/hour if your employer didn't choose to buy you benefits as there would be more money available for salaries.