2006-10-15 23:24:50 · 9 answers · asked by gaby_ro_2004 1 in Business & Finance ➔ Taxes ➔ United States
It depends and every one's situation is different. But generally, if you are both working prior to being married and continue to work after being married, then your federal tax liability tends to go up. It gets real bad if one of you earns less then $30,000 and have children. Why, because you lose the Earned Income Credit when your combined incomes exceed $30,000. However, if one of you doesn't work, then getting married tends to help.
Again, every body's situation is different. What you can easily do is go back to 2005 or 2004 and repeat your tax returns as Married Filing Joint and see how you do versus what you did originally (Single?). As far as all that Married Filing Joint versus Married Filing Separate mumble jumble, avoid Married Filing Separate like the plague. It is rarely better than filing jointly. If you are married by the last day of the year, you must not file as "Single" regardless of anything.
OK?
2006-10-16 00:52:37 · answer #1 · answered by TaxMan 5 · 3⤊ 0⤋
Short answer: Anywhere from slightly less to a lot less. The tax savings aren't worth the marriage certificate unless you're really, really wealthy (saves a bundle on inheritance taxes) or your incomes are extremely disparagate (if one of you is a stay-at-home spouse, it cuts the working spouse's tax nearly in half). Always marry for love, not money or tax cuts.
Long answer: Occasionally more and too lengthy to go into here.
2006-10-16 01:17:38 · answer #2 · answered by lizzit 3 · 0⤊ 1⤋
I would say from my own experience that they are a bit less,,, but don't get married just for the tax breaks..marry cause you love each other.
2006-10-21 02:11:41 · answer #3 · answered by mrs.godzilla9970 1 · 0⤊ 0⤋
Income taxes? Less. If you are single, file as Head Of Household, not Single. That will save you some.
2006-10-15 23:33:51 · answer #4 · answered by Barbara 5 · 0⤊ 1⤋
Tax liability can go either way depending on whether you both work and how much each of you makes, and how you file, jointly or separately.
2006-10-16 05:19:50 · answer #5 · answered by Judy 7 · 0⤊ 0⤋
If you file separately, you usually have to pay the same, with some adjustments. However, if you are going to file "jointly" then there are major adjustments. Sorry I don't know the specifics.
2006-10-15 23:33:51 · answer #6 · answered by mizzgov_08 3 · 0⤊ 1⤋
You get higher standard deduction for being married but for the same reason makes it harder to itemize your deductions since you to have a higher threshhold amount to be able to itemize.
2006-10-16 05:29:47 · answer #7 · answered by goldenboyblue 3 · 0⤊ 0⤋
Chances are you will end up paying your wife at least half of what you have left after you pay the government.
So simple answer if YOU PAY ALOT MORE.
2006-10-23 15:37:36 · answer #8 · answered by Anonymous · 0⤊ 0⤋
no. getting married does nothing for you unless you file a joint return.
2006-10-15 23:32:50 · answer #9 · answered by namasterwc 2 · 0⤊ 0⤋