Reply to The financial advantages of NOT getting married

Forum Index » Money and Finances

Reply to "The financial advantages of NOT getting married"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]Ok, so how can I handle this with my fiancee? We are planning to get married later this year - own a home together, have rental property, share a credit card for all expenses (that we pay off monthly), etc.

However, we continue to keep separate finances. I have my own investments and pension; she has her own investments and has stock in previous companies. We do pretty well.

I just ran the numbers and we are going to get killed if we get married:

1. We take itemized deductions on our taxes and will continue to itemize post-marriage due to the high interest payments on our recently purchased home and rental property. The tax bill limits to SALT deduction to $10K per single OR married couple. So, essentially, we get $20K of SALT today as singles and we lose $10K of SALT deductions by just getting married.

2. I am Fed and qualify for PSLF for my student loans. My loan payments would nearly double just by getting married (from $750/month to $1500/month) because they would incorporate her income into my repayment ability. This happens whether we file jointly or separately. I'm half-way to qualifying for loan forgiveness of the balance - another 5 years to go.

What's the best play here? We fully fund our retirements up to the pre-tax limit ($18K) and our gross HHI is about $260K. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics