Close Topic Options

Less Expensive To Be Single?

Weddings are not cheap, by any means. After you factor in the costs of sending invitations, throwing the ceremony, catering the reception and paying for the honeymoon, many couples find that they have spent a small fortune just to get hitched.

Unfortunately, Uncle Sam doesn't make things any easier, causing many married couples to pay higher taxes once they have given their vows.
Ref. https://www.savewealth.com/news/9905/marriagepenalty.html

Single To Expensive Less

With the Job and Growth Tax Relief Reconciliation Act (JGTRRA) of 2003, the marriage tax penalty has been somewhat relieved, closing the gap between taxable income for married couples filing jointly vs indivdiual filers. The article you reference Neo seems to be somewhat outdated with this Marriage Penalty Relief. The couple used in that article would now pay almost $1000 less in taxes, bridging the gap from $1400 to about $400. This relief is currently set to expire in 2005 but will slightly decrease the deduction until 2009 when the deduction is expected to return to pre-2003 levels.