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There can be a marriage penalty, but married people also have more options to file their taxes and a host of other benefits we shouldn't ignore in this discussi
by long_time_gone 5y ago
There can be a marriage penalty, but married people also have more options to file their taxes and a host of other benefits we shouldn't ignore in this discussion. For example; cheaper insurance, Social Security benefits, family leave, veteran's/military benefits, estate planning benefits/exemptions, are direct monetary benefits. Along with a host of legal benefits like visiting rights, immigration/residency rights, divorce rights, medical decisions and ICU visitation.
[1] https://www.nolo.com/legal-encyclopedia/marriage-rights-benefits-30190.html https://www.nolo.com/legal-encyclopedia/marriage-rights-bene...
- StatsAreFun 5y agoThat's a good point. To piggy back on this thread, here are a few more references for tax-related benefits to being married: [0], [1]. On the flip side, it may be more beneficial to not be married under certain circumstances: [2]. An interesting calculator can be found here: [3] * Disclaimer: I am not a lawyer and this is not legal or tax advice! Please consult a qualified professional if you have questions related to your specific situation. [0] https://turbotax.intuit.com/tax-tips/marriage/7-tax-advantages-of-getting-married/L1XlLCh0m https://turbotax.intuit.com/tax-tips/marriage/7-tax-advantag... [1] https://www.kiplinger.com/taxes/602851/marriage-and-taxes-what-you-need-to-know https://www.kiplinger.com/taxes/602851/marriage-and-taxes-wh... [2] https://www.wsj.com/articles/when-it-comes-to-taxes-sometimes-it-pays-to-say-i-dont-11563528633 https://www.wsj.com/articles/when-it-comes-to-taxes-sometime... [3] https://tpc-marriage-calculator.urban.org/ https://tpc-marriage-calculator.urban.org/