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Author: TMFTaxes Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121182  
Subject: Re: Marriage Penalty Date: 11/8/1999 11:16 PM
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<<I've seen Fool responses that say there's no way to avoid the Marriage Penalty. Then what's Married Filing Separately
about?>>

I explain what it's all about in my series of posts regarding the marriage penalty in the Taxes FAQ area. You should check them out for more detailed answers.

<<Does it help some couples?>>

Some? Yes. But there are a number of limitations that you have to overcome when filing married/separate. Many of your deductions are limited, and many other tax issues are clouded.

<<Is there some quick formula to help me understand if we'll have a marriage penalty?>>

Again, my series of posts in the Taxes FAQ area will provide you with a number of examples. But quite simply...if you are married and both work, you'll very likely get hit with some form of the marriage penatly. How much is another question.

<< Example: wife_income + husband_income = married_income. Look up some tax table (where oh where) to find out
the tax bracket (e.g., wife_income alone was at 15%, husband_income alone was at 33%, married_income puts them
at 28%).>>

Again...that's all explained in my posts on this very issue. Check 'em out in the Taxes FAQ area. There's a lot of reading there. After doing all of it, you should come away with a much clearer picture.

TMF Taxes
Roy
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