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Taxes: married status?

divabride Posted:

Taxes: married status?

Just wondering, what happens when you check 'married' on you taxes? do they go up, down or the same? Just curious to know..

julz33 Posted:

Re: Taxes: married status?

On my paycheck... I am getting more money now, so I guess that is less taxes.

kpny622 Posted:

Re: Taxes: married status?

I think it depends on whether you file jointly or separately with your spouse. I've heard of the 'marriage penalty' whereby as a couple you end up paying more taxes than you would single. I am not sure how this works though, nobody can explain it to me. I think it only comes into play when each spouse is in a different tax bracket though (so that when you file jointly, the lower earning spouse is now in a higher bracket too).

Jordan Posted:

Re: Taxes: married status?


Posted by kpny622

I think it only comes into play when each spouse is in a different tax bracket though (so that when you file jointly, the lower earning spouse is now in a higher bracket too).



Yes and thus paying higher taxes. It's the person in the lower tax bracket that will get 'screwed' come April 15th...

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