jasonxctf Posted October 15, 2004 Share Posted October 15, 2004 can someone explain this to me. what is the marriage penalty for taxes and how does it penalize people? Quote Link to comment Share on other sites More sharing options...
Chisoxfn Posted October 15, 2004 Share Posted October 15, 2004 The marriage penalty basically means your paying more in taxes when your married (a husband and a wife) then when the two of you were living single. Its a pretty ridiculous thing and to me their shouldn't be a marriage penalty. For example: Man: Pays 20,000 in taxes a year Women: Pays 20,000 in taxes a year Total = $40,000 This is when they are going out. Now they get married Husband and Wife: 45,000 in taxes a year They now file jointly, which means their incomes are combined and your pooled into a higher tax bracket. At least thats the way I understand it. Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted October 15, 2004 Share Posted October 15, 2004 What is the marriage penalty? Your wife Quote Link to comment Share on other sites More sharing options...
jasonxctf Posted October 18, 2004 Author Share Posted October 18, 2004 but couldn't you just file as married filing separately to avoid this? Quote Link to comment Share on other sites More sharing options...
DBAHO Posted October 18, 2004 Share Posted October 18, 2004 What is the marriage penalty? Your wife Boy I hope your wife doesn't read the boards for your sake, especially if she doesn't know that green means sarcastic. Quote Link to comment Share on other sites More sharing options...
Steff Posted October 18, 2004 Share Posted October 18, 2004 but couldn't you just file as married filing separately to avoid this? No because the standard deduction is lower for "married filing separately" - which means that more of your income is taxable and you end up paying more than if you just filed together. Quote Link to comment Share on other sites More sharing options...
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