When I file as a married person next year...

Bunnymonkey Posted: Feb 04, 2005 09:50 AM

When I file as a married person next year...

Do we get breaks?

someone told me that if FH and I make the same amount, we will get totally screwed with taxes.

I'm not much of a number person - I don't know how to do my taxes - just wondering how things might change next year...

TIA!

shamrock12472 Posted: Feb 04, 2005 09:52 AM

Re: When I file as a married person next year...

Nope - no breaks. What you are referring to is the 'marriage penalty'. Your itemized deductions have to hit a much higher number to reach the floor to start taking them. Plus, the extra income usually pushes you into AMT especially if you are a homeowner.