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Getting married can increase your tax bill

Published: Wednesday, May 9 2012 11:19 a.m. MDT

Many couples with similar and relatively high incomes are finding that they owe more taxes together than when they filed separately, according to U.S. News.

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Many couples with similar and relatively high incomes are finding that they owe more money together than when they filed separately, according to U.S. News.

If each person makes $80,000 a year, before they get married each will pay a 25 percent tax rate on their last dollar earned, according to the article. But once they're married their income will jump to $160,000 which will put them in the 28 percent tax bracket for a portion of their income.

"It was designed to be a marriage bonus," Mark Luscombe, a tax analyst for the firm CCH, told U.S. News. But married couples don't have to be hit with a big tax bill once they're married. Newlyweds can change how much they withhold from their taxes. That way, they'll still pay the amount, but in smaller increments throughout the year, instead of a big unexpected tax bill in April, Kathryn Dickerson, a partner at Smolen Plevy, a Vienna, Va. Law firm, told U.S. News.

EMAIL: bbullock@desnews.com

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