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[ARCHIVED THREAD] - Income Tax Question

Posted: 1/25/2013 3:14:52 PM EDT

Just got married last year so this is the first time I've had to file married. We don't have kids and we both work. So far I have only filled it out online filing jointly and we seem to be getting screwed.

Does it make any difference to file separately?

Posted: 1/25/2013 3:20:40 PM EDT

[#1]

yes, its called the marriage penalty. When you add your income together it puts you in a higher tax bracket. Depends on your income but if you both make say 40-50K you will probably be better off filling separate returns.

Posted: 1/25/2013 3:22:51 PM EDT

[#2]

http://www.bankrate.com/finance/taxes/2012-tax-bracket-rates.aspx

Check the chart and see where you land and then plan accordingly.

Posted: 1/25/2013 3:54:30 PM EDT

[#3]

If I'm reading the chart right we are better off filing jointly because it keeps us in the 25% bracket. If I file separately she'd be in the 25% and I'd be in the 28%.

So pretty much I'm fucked?

[ARCHIVED THREAD] - Income Tax Question

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[ARCHIVED THREAD] - Income Tax Question

[ARCHIVED THREAD] - Income Tax Question