The financial advantages of NOT getting married

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We are going from a $30k marriage penalty before the tax reform bill to $0 this year. I feel like you're probably relying on outdated info.

How did this work out?

We didn't get any significant penalty or benefit from being married

You need to make more money. Marriage penalty is super harsh for two high earners who make around the same amount of money.

There is a big marriage benefit for one high earning spouse and one stay-at-home spouse. The stay-at-home spouse reduces the high earner's tax liability.

This. High earner + SAHM pays no marriage penalty.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:For the PSLF folks, there's a loophole that you may qualify for, although it's not perfect. You can file separately, but make sure that you ask for the IBR or ICR plans. No PAYE or REPAYE. They don't factor in the spouse's income at all. HOWEVER, filing separately will reduce you down to $5000 on SALT (it splits it from joint), and you can no longer deduct student loan interest.

Can you file separately and then later amend your tax filing to joint? Quite the crazy marriage penalty, wow

Thank the GOP for their god awful tax distortions they embedded in the recent legislation

Yeah baby - like that Obama dude hiked taxes for singles making over $400000 and married making over $450000. How come you never complained about those distortions?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:For the PSLF folks, there's a loophole that you may qualify for, although it's not perfect. You can file separately, but make sure that you ask for the IBR or ICR plans. No PAYE or REPAYE. They don't factor in the spouse's income at all. HOWEVER, filing separately will reduce you down to $5000 on SALT (it splits it from joint), and you can no longer deduct student loan interest.

Can you file separately and then later amend your tax filing to joint? Quite the crazy marriage penalty, wow

Thank the GOP for their god awful tax distortions they embedded in the recent legislation

I am a D but they effectively got rid of the marriage penalty in the recent tax tables so I count that as one good thing.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:For the PSLF folks, there's a loophole that you may qualify for, although it's not perfect. You can file separately, but make sure that you ask for the IBR or ICR plans. No PAYE or REPAYE. They don't factor in the spouse's income at all. HOWEVER, filing separately will reduce you down to $5000 on SALT (it splits it from joint), and you can no longer deduct student loan interest.

Can you file separately and then later amend your tax filing to joint? Quite the crazy marriage penalty, wow

Thank the GOP for their god awful tax distortions they embedded in the recent legislation

I am a D but they effectively got rid of the marriage penalty in the recent tax tables so I count that as one good thing.

I read a few threads about the new tax plan on Bogleheads and the general consensus there was that the marriage penalty was dramatically reduced for the majority of people.