Originally Posted by
Freightpuppy
I've heard that you get all sorts of tax deductions for being married and you pay less taxes if you are married. Well, when I look at my fiance's income and mine, here is what I see....
Being single, he is in the 25% tax bracket and I am in the 28%. If we were married, we would be in the 28% bracket together with no possible way on God's green earth to have enough deductions to bring us down to 25%. So, I ask....what is the tax advantage to being married?
Thanks.
Hopefully you are not basing your decision to marry or not to marry based on taxes.
From a financial perspective you will probably be better off, even if you are in a higher tax bracket. It is going to be tough to try and find tax deductions as a married couple, but with the combined income of two pilot salaries your problem is not necessarily a bad problem to have to deal with.
It's good to come here and solicit for opinions. However, the best advice that I will offer to you is to seek the counsel of very good CPA.
BTW, there may not be many tax advantages to being married, but there are countless advantages to being married that are priceless.
