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re: Does Anyone Else Suffer from Marriage Penalty?
Posted on 1/8/16 at 11:26 am to LoveThatMoney
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 11:30 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 11:34 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.
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