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> Marriage is a complex and binding contract that for two high earners is a tax disadvantage. You can file separately.
by warmwaffles 3y ago
> Marriage is a complex and binding contract that for two high earners is a tax disadvantage.
You can file separately.
- slaw 3y agoYou cannot file as single while married.
- cableshaft 3y agoYou can file as 'Married, filing separately', at least in the US. We considered it last year, but jointly ended up saving us a bit of money in our situation (I was surprised, I assumed based on something in our circumstance I don't remember offhand that it would be the other way around).
- slaw 3y agoYou will pay more tax than file as single.
- PopAlongKid 3y agoIn the U.S. tax code there are both marriage rewards and marriage penalties. Community property law (about 1/3 of U.S. population by state) further muddies the water. "Two high earners" is not a meaningful description. Two people each earning $500K is far different than one earning $300K and one earning $700K.
- jitl 3y agoSure; but we file separately while unmarried as well. I noted that because it’s often listed as one of the objective benefits of marriage.