Married Folks - Tax Question

[Buckets]

I'm getting married in October and thus will be filing jointly next year. For tax purposes that means we will be combining incomes so instead of being taxed at $50k separately we will be taxed at $100k together (hypothetical numbers, you all can't know how much I make). So the jump in tax brackets will likely be a huge tax hit come this time next year.

Did any of you experience this increased tax hit? If so, what did you guys do?

[Robceltsfan]

Filing married gets you tax incentives, so you shouldn't be hurt much at all. However, if for some reason you find it's problematic to file as married, simply file separately for one more year. You aren't required by law to file married simply because you're married.

[Deez]

I actually didn't notice much when we had our taxes done together. The guy that did our taxes showed us the numbers both single or jointly to see which way would be better for us or more on our return. It ended up better for us filing together.

[Buckets]

Filing married gets you tax incentives, so you shouldn't be hurt much at all. However, if for some reason you find it's problematic to file as married, simply file separately for one more year. You aren't required by law to file married simply because you're married.

Very informative. Didn't know it wasn't required. I guess I'll run through the tax calcs on both situations next year and see which is more beneficial. Thanks for the input!

[Buckets]

I actually didn't notice much when we had our taxes done together. The guy that did our taxes showed us the numbers both single or jointly to see which way would be better for us or more on our return. It ended up better for us filing together.

This jives with what Rob said above. Thanks for the input! Much appreciated.

[AbeVigodaLive]

As an accountant, I know the answer to this question.

Basically, to keep it short, you'll want to file jointly. I'm guessing the $100k isn't "too far" off your joint income, so you're under most more punitive tax thresholds anyway.

Now, knock her up quick and you'll really be able to clean up during tax season...

[Shill Jackson]

buy a home and deduct the interest

[Kingcarl24]

As an accountant, I know the answer to this question.

Basically, to keep it short, you'll want to file jointly. I'm guessing the $100k isn't "too far" off your joint income, so you're under most more punitive tax thresholds anyway.

Now, knock her up quick and you'll really be able to clean up during tax season...

Seriously, one of the biggest benefits to having kids. That $3000 tax credit almost makes it all worth it.

I wish I could help the OP more. My wife doesn't work so filing taxes is pretty easy for us.

[AbeVigodaLive]

As an accountant, I know the answer to this question.

Basically, to keep it short, you'll want to file jointly. I'm guessing the $100k isn't "too far" off your joint income, so you're under most more punitive tax thresholds anyway.

Now, knock her up quick and you'll really be able to clean up during tax season...

Seriously, one of the biggest benefits to having kids. That $3000 tax credit almost makes it all worth it.

I wish I could help the OP more. My wives don't work so filing taxes is pretty easy for us.

I think most families can raise a kid for about $840 annually. So you'd be about $2200 ahead. Nice.

[Bush4Ever]

lol at u scrubs paying your taxes

[AbeVigodaLive]

lol at u scrubs paying your taxes

I hate people like you. I would hate to live next to somebody as anti-American as you.




[Note: That being said, any houses up for sale on that block? Ours goes on the market next week...]

[Bush4Ever]

lol at u scrubs paying your taxes

I hate people like you. I would hate to live next to somebody as anti-American as you.




[Note: That being said, any houses up for sale on that block? Ours goes on the market next week...]

not fur yer types

[dunkan5rings]

I'm getting married in October

lol u stupid fuck

[AlaskaHawks]

As an accountant, I know the answer to this question.

Basically, to keep it short, you'll want to file jointly. I'm guessing the $100k isn't "too far" off your joint income, so you're under most more punitive tax thresholds anyway.

Now, knock her up quick and you'll really be able to clean up during tax season...

Seriously, one of the biggest benefits to having kids. That $3000 tax credit almost makes it all worth it.

I wish I could help the OP more. My wife doesn't work so filing taxes is pretty easy for us.

None of your wives work?

Note: Where the hell were you on this one, Abe?