Post # 1
This is our first year filing taxes as a married couple. We both knew that being married would likely reduce our tax return, but it’s downright insulting. Blah! Just needed to vent somewhere.
Thanks for listening 🙂
Post # 2
Ha. This is one reason we are still thinking about not getting married.
Post # 3
ladycirtolthiel: I hear you. AMT kills us as does the fact that we don’t have a large gap between our incomes. We paid over $100K in taxes this year – not business owners, had the maximum deducted every paycheck so I can’t figure out why we paid so much. At first I was convinced it was a mistake. Nope.
Post # 4
Yuup. Fiance and I both get hit with the AMT already and the marriage penalty will tack on at least $30k more per year to our tax total, hence our delay. Sucks.
Post # 5
- Wedding: June 2016 - Sassafraz in Toronto, Ontario
I’m curious: what is causing it to be more expensive? We’ve been doing taxes together for years (Canada), and as far as I recall, there are only minor benefits to filing as a couple.
Post # 6
- Wedding: March 2014 - Chicago, IL
Can’t you file separately even if you’re married? We file jointly usually, but I’m pretty sure our accountant runs the numbers both ways to see what the max we can get back will be.
Post # 7
What causes this? Lol now I’m scared for filing next year.
Post # 8
FutureDrAtkins: our accountant does this too. It’s a good idea to ask just to see the different outcomes 😀
Post # 9
FutureDrAtkins: Our accountant said that married filing jointly vs. married filing separately wont matter for us, unfortunately. 🙁
Post # 10
My ex actually was better off once he remarried and could file jointly. It all depends on your circumstances. I’m HOH, 2 dependants, and a homeowner – so I’m in good shape as a single person. If I’m married it just bumps me a tax bracket with no benefits lol.
Post # 11
We actually got a big refund because there’s a big disparity between our incomes… sadly. I make a lot more than Darling Husband, who is a teacher. I like to think that Darling Husband is helping the community and as a result, not making much, so we’re entitled to that tax refund.
Post # 12
We got hit hard our first year of marriage especially because we jumped income brackets after significant raise. Not sure how much you pay, but we still pay about $30,000 a year in taxes. It makes me sad, but hey, you make more, you pay more. This past round we got a whopping $2,500 (highest return we have got back since being married) because of our mortgage interest, student loan interest, 401k contributions and charitable giving allowed us to do an itemized deduction.
My goal is to just not owe, so we have balanced out our witholdings throughout the year to make sure we at least break even. We also increased our 401k contributions to lower our taxable income. Maybe you should look into your withholdings OP. Also, do you own a home? Do you make charitable donations? Do you have a 401k? Those are things that can balance out your return and reduce your tax liability.
Post # 13
ladycirtolthiel: Taxes SUCK but in almost ALL cases, its best to file jointly. it stings being in a higher bracket, but unless you have really unique circumstanses ( IE- one of you have really high out of pocket medical expenses) , its best to file jointly.
One of the things we have done to help lessen the amount taxed is increase our contributions to our 401ks to lower our taxable income. Saving for retirement and saving on taxes, woot!
Post # 14
ladycirtolthiel: Did you try filling separately? We make close to the same. I barely brake even but he gets 1-2k back. We make too much and qualify for zero deductions.
Post # 15
I’ve never really minded paying taxes, because it means I could be a hell of a lot worse off, financially.
TheGridMonster: I cant imagine paying $30k more per year because of getting married, though. That would SUCK. But since I work in non-profits and Fiance works in government, I guess we’ll never have that problem? :-p