Comment on [deleted]
HeyThisIsntTheYMCA@lemmy.world 4 weeks agodude, it’s called the marriage penalty for a reason. either your math was wrong or your situation was one of a few rare ones.
Comment on [deleted]
HeyThisIsntTheYMCA@lemmy.world 4 weeks agodude, it’s called the marriage penalty for a reason. either your math was wrong or your situation was one of a few rare ones.
jordanlund@lemmy.world 4 weeks ago
Or… just spitballin here… OR you might not know how taxes work for single vs. married.
…intuit.com/…/5-reasons-its-great-to-be-single-at…
“What are some disadvantages of single people’s taxes?
Why do single people sometimes pay more taxes? While singles may love the independence afforded by their relationship status, many single taxpayers face drawbacks in the form of:
Fewer tax breaks
Higher household expenses
Bigger rent payments
Other single-people tax disadvantages
You might end up in a higher tax bracket
Single people often face higher income tax rates than married couples filing together. Of course, this depends on your specific income level, but the respective tax brackets have much wider income ranges for married filers than singles.
For example, single filers who make between $0 and $11,000 have a tax rate of 10%. That same rate applies to married people filing together who make up to $22,000. Single people who make $22,000 would have all income over that $11,000 threshold taxed at 12%.
You’ll have a lower standard deduction
The standard deduction is a specific dollar amount that reduces the amount of income you’re taxed.
For 2023, the standard deduction for those married filing jointly was $27,700, while for single filers, it was $13,850 for single filers. Note that the standard deduction is typically adjusted for inflation each year.”
HeyThisIsntTheYMCA@lemmy.world 4 weeks ago
I always enjoy when people try to explain taxes to me.
BassaForte@lemmy.world 4 weeks ago
I always enjoy when people can’t admit they’re wrong.
HeyThisIsntTheYMCA@lemmy.world 4 weeks ago
I have a better degree in the field than whatever degree you have is, and worked in taxes for a few decades. Prepared both MFJ and MFS for every client every year. Guess how many MFS were better?
HeyThisIsntTheYMCA@lemmy.world 4 weeks ago
FYI