I paid almost half of my total income into taxes this year, If I get married by year end will I get more back?

Question

gross income=100,000.
net=59,000.

Answer 1

The federal income tax on $100,000 for single is $19,661. For Married Filing Jointly (if 100k is total combined income) is $13,473. The social security tax and medicare tax remain unchanged.

If you are married, you can file only as Married Filing Jointly or Married Filing Separately. If you have income and your spouse does not have income or has a very little income, then it is better to file as Married Filing Jointly. If both of you have almost equal income, then it won't make much difference.

Answer 2

If you marry someone who had no income, and file a joint return with them, then you'd get more back on your taxes - but think long and hard before you do something like that.

If you marry someone who made about the same as you, then it wouldn't change the taxes total that the two of you would owe by much if anything.

You say you paid almost half of your income in taxes - that sounds high. OK, social security and medicare took 7.65% - that doesn't change whether you're married or not. Then there's state and local taxes maybe, plus federal income tax - but unless you're making hundreds of thousands of dollars a year, it shouldn't have been half or even close. Are you maybe including deductions for non-tax items like 401K or medical premiums?

Answer 3

there is an exceedingly easy answer to this. First, in case you employ a computerized application, use 2010 as a handbook. First, set up that return as in case you have been married. Use your earnings and deductions as in case you have been married. Then evaluate that on your 2010 returns which you filed as unmarried making use of the earnings and deductions and evaluate your refunds via including the two refunds at the same time. you additionally can try this via hand making use of final twelve months's IRS packet in case you do no longer use a computerized application. merely call the IRS for a 2010 tax packet with returns, schedules and tax fee tables.

Answer 4

Where do you live? NYC? Boston?

Wherever it is, I'd look for a change of scenery that would not cost me a fortune.

No, you'll end up getting hit with the infamous marriage penalty from the wonderful people at the IRS (Income Removal Service)

Answer 5

not necessarily

if you file "married jointly" for 2007 & you have more itemized deductions then you might do better

you do not take an extra exemption just for being married

for many people, until you buy a house and have the mortgage interest as a major deducton, itemizing just doesn't help

Answer 6

You may be overwithholding. You won't know your final tax bite until you file your return. In the meantime, check your withholding.

Answer 7

Sounds like you live in Florida. Taxes are so damn rediculous!