alt Hacker NewsI just checked the Federal rates and they’re pretty much exactly double from single to married.
Are you in a funky state with bad tax policy?
Replies
soupfordummies • yesterday at 9:01 PM
I did a draft of our taxes this week and it was almost exactly the same amount filing married vs separately. Where is the big benefit for filing jointly? I guess if you claim dependents?
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wkaisertexas • yesterday at 9:02 PM
A married couple pays the same income tax as two single payers making half the income.
Due to progressive taxation, we tax two people who make $50,000 less than someone who makes $100,000 which is where the tax savings come from.
The threshold rates for a lot of credits, deductions and exemptions are not. Like the Roth IRA is $153k for single, $242k for married. Child care credits have a similar problem if I remember correctly (or they did before my kids grew out of it).