Absolutely agree, I found out about the same issue a few years ago when I did my taxes manually to double check Turbo Tax. I was shocked to find that I fell right in the “recapture” zone. I don’t remember exactly, but I thought that the “slide up” from NY state in that zone, combined with city and federal taxes, meant that I took home less money than if I was just below the zone threshold. I called the tax department in disbelief, they agreed that I had it right. Unbelievable! I tried to find articles about it online, nothing. I even wrote to The NY Times personal finance section requesting they do an article on it, they didn’t.
birdsaflutter t1_j9dhc0q wrote
Reply to PSA: New York State tax brackets are not what they seem by PostPostMinimalist
Absolutely agree, I found out about the same issue a few years ago when I did my taxes manually to double check Turbo Tax. I was shocked to find that I fell right in the “recapture” zone. I don’t remember exactly, but I thought that the “slide up” from NY state in that zone, combined with city and federal taxes, meant that I took home less money than if I was just below the zone threshold. I called the tax department in disbelief, they agreed that I had it right. Unbelievable! I tried to find articles about it online, nothing. I even wrote to The NY Times personal finance section requesting they do an article on it, they didn’t.