The marriage penalty might not be a reason to skip matrimony, but it could motivate you to find out more about how taxes may change for you and yours.
Thursday, October 5, 2017
THE TAX BENEFITS OF STAYING SINGLE
Have you ever heard of the marriage
penalty? It means you could be taxed more as a married couple than you would as
single people making the same amount of money. This is because single filers almost
always have higher income thresholds when moving to higher tax brackets. Personal
exemptions and itemized deductions can also phase out more quickly for married
couples than for single filers.
The marriage penalty might not be a reason to skip matrimony, but it could motivate you to find out more about how taxes may change for you and yours.
The marriage penalty might not be a reason to skip matrimony, but it could motivate you to find out more about how taxes may change for you and yours.
