3 ms·
List of caveats I can think of: * Covers regular federal income tax only. Does not cover any of the taxes on Schedule 2, nor any state/local taxes. * Assumes
by junar 8mo ago
List of caveats I can think of:
* Covers regular federal income tax only. Does not cover any of the taxes on Schedule 2, nor any state/local taxes.
* Assumes both individuals take the federal standard deduction as Single (not Head of Household).
* Assumes no other credits or deductions.
As a result, this can potentially understate marriage penalties for dual-income couples with kids.
https://taxpolicycenter.org/briefing-book/what-are-marriage-penalties-and-bonuses https://taxpolicycenter.org/briefing-book/what-are-marriage-...
- dmoy 8mo agoAlso assumes no income based repayment on debt