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To marry or not to marry, which has less income tax (U.S)?
I am a divorced mom 2 kids, I claim them- both head of household. My fiance owns the house and deducts that on taxes, he made about $47,000 last year. I'm a little less at about $42,000. The ex-husband pays nothing in child support so I need to keep as much as I can for the kids.
I think that If we marry our combined incomes and the "married" standard deduction will have us paying more money to the IRS. Am I correct?
I really see no benefit to get married at this point other than to shut up his grandmother.
No comments on religion, morals etc. PLEASE :)
Thank you!
1 Answer
- Anonymous1 decade agoFavorite Answer
Dear P: I believe you are correct, but try the free H&R Block calculator at www.hrblock.com and try different scenarios. Drop your income a little and watch the EITC kick in, if you really want to impress old grand ma. Careful on the HOH if you guys live together, make sure you are making enough income to qualify for the HOH status.
This advice was prepared based on our understanding of the tax law in effect at the time it was written and it applies to the facts that you provided. Click on my profile to read more. Errol Quinn Enrolled Agent Master Tax Advisor