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Sure and under income taxes, Couple B probably pays much less since US income tax structure is gives massive benefits to couples with single income. It may not
by stackskipton 1y ago
Sure and under income taxes, Couple B probably pays much less since US income tax structure is gives massive benefits to couples with single income. It may not be enough to offset joint income. As with most economic changes, there is massive web of things.
- Ajedi32 1y ago> US income tax structure is gives massive benefits to couples with single income It gives massive structural advantages to couples with low income, in the form of a lower marginal tax rate. Does it really discriminate between single and dual income though? I wasn't aware of that.
- WD-42 1y agoIt does not. Filing jointly just saves some hassle in the case where the partners are in the same tax bracket.
- stackskipton 1y agoIt does. If you look at the tax brackets, https://www.irs.gov/filing/federal-income-tax-rates-and-brackets https://www.irs.gov/filing/federal-income-tax-rates-and-brac... Married Filing Jointly is good for anyone where income is vastly different. Let's say you made 150k and partner made zero. If you were filing as single, high tax bracket you would get is 24% at everything past 100k. Married filing jointly, 22% at 94k. Also, you could borrow your spouse standard deduction as well to help reduce the tax requirements.