Then you must be broke because if you made any decent money, you would owe. |
This is smart and if I wish we had done the same.
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Or they adjusted their W4 accordingly... |
Correct but my point is that they STILL OWE...they are just paying throughout the year, as opposed to getting a bill at the end. |
Ah, got it. I think most people when they say colloquially that they don't owe means that they paid nothing/got a refund at the end of the year, which generally happens if you set your withholdings correctly. You're right, you have to be pretty poor to not owe anything...I still paid some in taxes when I was living off of a graduate stipend. |
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My husband and I have been together for 13 years, married since we could, but only recognized for IRS purposes since the summer. I have a high income and his is good. We have a lot of investments and several kids. Being married will cost us at least $25k in taxes this year. And I am happy to pay it.
Had we not been recognized as married and I died now, he would have had a high seven figure tax bill. Every year I spent thousands planning how to pull resources without incurring tax while those the irs recognized as married didn't give it another thought. To those complaining, grow up. Taxes are the price we pay to life in a civilized society and being married in the eyes of the law is a great privilege that most you apparently take for granted. You have idea how lucky you are. -someone fortunate enough to be in a combined effective federal and state tax bracket over 40% |