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Author: Lokicious Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 120795  
Subject: Re: newly married and taxes Date: 2/26/2001 11:38 PM
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"If my income is 120k and hers is 25k what difference will this make in our tax bill as compared to when i was single and filing by myself?"

You should look at the 1040 tax schedules and check for yourself: don't forget deductions and exemptions.

Rough calculation (I haven't rechecked the arithmetic), using standard deduction and exempiions for just you and your wife:

Married, filing jointly: taxes of approx. $32, 675.

Married, filing separately: you would pay approx. $34, 500 and she would pay $3000 for a total of $37, 500.

If you had not married (this is not a legal option): filing single, you would have paid approx $32,000, she would have paid $2657, for a total of $34,675.

So file jointly and enjoy the tax benefits of marriage, and any other perks of being a newly wed.
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