Viewing a single comment thread. View all comments

bigpolar70 t1_jeaz0hb wrote

Mileage alone $0.655x23x2x4x52=$6,267.04

That's a third of your pay increase gone right there.

If you ve your time at $20/hr, $20x1.5x4x52 =$6240, that's another third.

So you are effectively getting an extra $6,000. But, you will pay income tax on all $18k.

If you need a better car to make the daily commute work, it is probably not worth it.

0

GoalVirtual9713 t1_jedtw89 wrote

That’s the IRS mileage rate? Unless they’ve got a weirdly nice car, that’s a large overestimate.

Also, it seems a bit strange to value or off work time at $20/hour. It of course doesn’t actually cost you that amount.

1