Would we come out better from a tax standpoint if we were married? The last 2 yrs I've claimed my boyfriend on my taxes (legally as verified by my accountant) but I'm wondering if we would get back more if we were married.
2006-11-08 06:07:54 · 7 answers · asked by customcat2000 4 in Business & Finance ➔ Taxes ➔ United States
I would not get married just for a tax benefit. In general, tax rates for Married Filing Jointly are lower than for Single. The standard deduction is also larger.
Because this is a tax question, I will spare the morality lecture. I'm not that good at giving it anyway.
2006-11-08 10:29:28 · answer #1 · answered by STEVEN F 7 · 1⤊ 0⤋
I would emphasis that you don't get married tosave taxes. But it look slike you would save about 15% of $5,150 by being married. This is the additional standard deduction for joint versus single. If you are itemizing deductiions then any savings would be less. 15% of $5,150 is $773
2006-11-08 14:33:08 · answer #2 · answered by waggy_33 6 · 1⤊ 0⤋
You say he has no recorded income. Does that mean he is being paid under the table or is self employed and not reporting his income? In that case you may be an accessory to tax fraud.
2006-11-08 14:44:38 · answer #3 · answered by daoco 4 · 1⤊ 0⤋
Don't get married just because you're looking for a tax break.
2006-11-08 14:10:09 · answer #4 · answered by ryan c 2 · 0⤊ 0⤋
OMG...are you married to K-Fed? Dump this guy until he gets a job! Don't marry him..it will cost you more when you divorce. And you WILL divorce!!
The guy is a bum....find a real man who want to take care of you and your kids!
2006-11-08 14:12:45 · answer #5 · answered by bulldawg19723 1 · 0⤊ 1⤋
don't don't don¿t get married for tax purposes. If he is not working, he will never be. Get rid of him ASAP. your children and you will be better off.
2006-11-08 14:11:06 · answer #6 · answered by Manolo 4 · 0⤊ 0⤋
It's not the financial benefit but think more of the literal happiness you'll get into.
2006-11-08 14:12:14 · answer #7 · answered by Shirbol 2 · 0⤊ 1⤋