The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Marriage Penalty Returns||Date: 1/18/2013 5:54 PM|
|Author: SamuelClemens||Number: 117387 of 124930|
If a married couple has two fairly high-earners, are they going to get clobbered with the new 2013 tax rates? If I read the new rates correctly here:
then I think my wife and I are going to be caught.
Say that in 2013 one of us makes $250K and the other makes $350K. I used the above tax brackets and did some simple calculations ignoring deductions, etc, and determined that we would pay about $19,000 more in taxes being married that filing as two singles.
Ouch. Tell me this is not the case. Married life is good and all, but $20,000! If we file separately can we avoid the penalty? Is divorce the answer? ("Honey, lets get a divorce and celebrate with lavish vacation!")
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