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Started By
Message
Does Anyone Else Suffer from Marriage Penalty?
Posted on 1/8/16 at 11:24 am
Posted on 1/8/16 at 11:24 am
My God, my wife and I get fricked dry by the Federal Government every year because we make, in their minds, similar amounts of money. It's fricking ridiculous. I'm paying something like 10% more taxes for being married than I would if I were single.
frick you, government, and your shitty tax code (that my wife totally uses to make money as a tax lawyer...).
CSB.
frick you, government, and your shitty tax code (that my wife totally uses to make money as a tax lawyer...).
CSB.
9
Posted on 1/8/16 at 11:26 am to LoveThatMoney
quote:
My God, my wife and I get fricked dry by the Federal Government every year because we make, in their minds, similar amounts of money. It's fricking ridiculous. I'm paying something like 10% more taxes for being married than I would if I were single.
wah
Posted on 1/8/16 at 11:26 am to LoveThatMoney
Hmmm... I don't think you understand the tax code and how its applied. Specifically the application of tax brackets. Explain, how you are treated unfairly?
Posted on 1/8/16 at 11:26 am to LoveThatMoney
I have no idea what that is, but will I have to pay it if my salary is triple hers?
Posted on 1/8/16 at 11:27 am to LoveThatMoney
In tax class at LSU about 12 years ago, our teacher told us of a couple he knew that got divorced on December 31st every year to avoid the marriage penalty and then remarried in January.
Posted on 1/8/16 at 11:27 am to LoveThatMoney
quote:
my wife
pics
Posted on 1/8/16 at 11:30 am to schexyoung
quote:
Hmmm... I don't think you understand the tax code and how its applied. Specifically the application of tax brackets. Explain, how you are treated unfairly?
I don't know if it has changed, but when I took tax 12 years ago, the penalty stems from the fact that deduction and credit amounts are not doubled if you are married filing jointly vs single. So, just to make up something to serve as an example, if a single individual received a $2,000 maximum education expense credit, it would only be increased to, say, $3,500 if you are married filing jointly vs the $4,000 it should increase to. That is the penalty.
Posted on 1/8/16 at 11:30 am to LeonPhelps
quote:
In tax class at LSU about 12 years ago, our teacher told us of a couple he knew that got divorced on December 31st every year to avoid the marriage penalty and then remarried in January.
Divorce takes 6 months. Seems like they'd be spending most of their time in court.
Posted on 1/8/16 at 11:31 am to LoveThatMoney
quote:
Marriage Penalty
Is that the one where you only get to PIIHB on your birthday?
Posted on 1/8/16 at 11:32 am to LeonPhelps
quote:
In tax class at LSU about 12 years ago, our teacher told us of a couple he knew that got divorced on December 31st every year to avoid the marriage penalty and then remarried in January.
Sometimes teachers tell stories that aren't exactly true.
Posted on 1/8/16 at 11:33 am to LeonPhelps
quote:
In tax class at LSU about 12 years ago, our teacher told us of a couple he knew that got divorced on December 31st every year to avoid the marriage penalty and then remarried in January.
And you believed that?
Posted on 1/8/16 at 11:34 am to schexyoung
quote:
Hmmm... I don't think you understand the tax code and how its applied. Specifically the application of tax brackets. Explain, how you are treated unfairly?
Hmm, actually, I think it's you that doesn't understand the tax code.
Posted on 1/8/16 at 11:34 am to LoveThatMoney
My wife and I do. Although she stopped working in 2015, so I'm hoping hat we will not suffer from it for the 2016 taxable year.
Posted on 1/8/16 at 11:38 am to LeonPhelps
A married couple has the option to file separately. It would most likely be disadvantageous for them, but people are ignorant.
In your unsourced non-specific example, there are more cases where the credit gets to be favorably applied against another spouses income, where without marriage it wouldn't.
In your unsourced non-specific example, there are more cases where the credit gets to be favorably applied against another spouses income, where without marriage it wouldn't.
Posted on 1/8/16 at 11:39 am to LoveThatMoney
but OT loungers told me that you get tax breaks for being married?
This post was edited on 1/8/16 at 11:40 am
Posted on 1/8/16 at 11:40 am to LeonPhelps
quote:
In tax class at LSU about 12 years ago, our teacher told us of a couple he knew that got divorced on December 31st every year to avoid the marriage penalty and then remarried in January.
he made that up
Posted on 1/8/16 at 11:41 am to LeonPhelps
quote:This didn't happen. Trust me. Even if you both agree to end the marriage amicably and quickly, it isn't something that happens overnight. It takes a long time for a divorce to move through the court system.
In tax class at LSU about 12 years ago, our teacher told us of a couple he knew that got divorced on December 31st every year to avoid the marriage penalty and then remarried in January.
Posted on 1/8/16 at 11:41 am to LeonPhelps
quote:
In tax class at LSU about 12 years ago, our teacher told us of a couple he knew that got divorced on December 31st every year to avoid the marriage penalty and then remarried in January
They would spend more on legal fees than they would save in taxes
Posted on 1/8/16 at 11:41 am to rocket31
quote:
but OT loungers told me that you get tax breaks for being married?
I do
Posted on 1/8/16 at 11:42 am to LeonPhelps
quote:Kalinka? If so, I was there. Didn't exactly pay attention so I don't remember this anecdote.
In tax class at LSU about 12 years ago
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