US Airways profit sharing formula?

[LearLove]

as for the tax thing - I took a payout for some vacation (50 hours) that i couldn't carry over into 2008. They taxed the crap out of it. about 47% by my numbers.

 

[Tweaker]

Thanks for the info guys!

 

[Contract]

Profit sharing is not a frigging gift. It is part of your compensation package and therefore it is taxed as ordinary income. GEEZE.....thats all we need is somebody to plant a seed like that in some of these politicians head and they may very well try and impose a friggin gift tax. Thats all I need!

Food bill is higher, gas is higher, tax bill is higher and my friggin paycheck is not getting any bigger. Whats this world coming to? Now Gift Tax??? give me a friggin break!

 

[metrolet]

Those being held at J4J carriers are supposed to be included this year. We shall see.

 

[Deadalus]

Keep in mind, 4500-5000$ before taxes. Since this money is considerd "gift" money, it is charged with a 50% + gift tax.

It might not be a great idea to plan on profit sharring money when making a decision to come over to this "turd in a punch bowl".

What? It's taxed the same as income, minus 401k, ALPA, etc.

 

[Hpilot]

My check was only 1/3 of what a guy I know at Fed Ex got. Then again it was 3 times as much as another guys check that's a captain at Alaska.

 

[FLYLOW22]

Keep in mind, 4500-5000$ before taxes. Since this money is considerd "gift" money, it is charged with a 50% + gift tax.

It might not be a great idea to plan on profit sharring money when making a decision to come over to this "turd in a punch bowl".

That was a big rumor here for a while too in regards to bonuses. Not true.

W2 earnings are W2 earnings. If you score high enough on your earnings to be taxed at a 50% rate, good for you. You should probably buy a fractional share and quit flying.

 

[TWA Dude]

Not true. The amount was equal for all pilots.

Thanks for the correction. We were misinformed.

 

[Deadalus]

I think my check was around $3500 take home. I wouldn't come here for that. It's gone from a great place to work pre merger to total crapola. Lot's of potential but the East is intent on destroying that. One trip to the verge of liquadation wasn't enough for them.

 

[ALGFLYR]

do you think they will include the guys that are being held? say someone was supposed to be inclass on july 9th but is held for 9 months.

I doubt it but guess it is worth a try.

I think we will get this too. I'm in the same boat as you. According to the J4J protocols, once you are recalled, on July 9th, and are held at a J4J carrier (Rep), you will be made whole for pay and benefits... I am under the impression that we will get $$. If not, I'll be very vocal about this. We are currently building longevity at mainline as if we were actively on the property... this is no different.