Harry and highflier
Do you have a U.S.accounting degree? I guess not.
Approximately 28% tax bracket.
They don't tax the following on monthly pay check.
1. Social Security - retirement gov
2. 401k - retirement A
3. Retirement B/C - depending on if want to be taxt now or after your retirement age.
The above is taken from your Gross monthly pay.
15 year Southwest 737 Captain $ 30,000 a month gross this if he works full time at 100 block hours or 1000 block year. Or 150+ credit hours a month!
Schooling is FREE in the U.S.
Come tax year. Deductions for at least the following:
Housing interest paid.
Wife and family.
Business expenses
Airline expenses
Other business transactions.
What IRS takes minus the SS and retirement a month, you get back "almost all" of it at tax filing. 9,000 to 12,000 depending on your expenses and deductions. So almost NIL or not tax at all.
Housing:
Do you acrue equity in your company accommodation for the 10 to 15 years in Dubai? Nope. You used that allowance if you want to pay off your rent if you leave out.
Does owning a home in the U.S.
acrue in equity? Yes - well above your allowance over time plus the U.S. Gov takes care of the interest charged for owning a home.
What is your overall "Net" worth to an American 15 year SWA capt over a 15 Boeing/Airbus CA over a life span of 10-15 years? No comparison! An FO don't even lose their salary security when they transfer over.
LAKER is spot on!
For the 2 of you, don't be boastful for something you totally have no understanding about.