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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I'm trying to figure this out. Spouse makes 160k with a bonus. I would earn 15k. He's saying I would be taxed 35 percent, just like him. My work doesn't take it all out, so come tax season, we would owe the difference. My work takes out whatever is "normal." I'm not considered a contractor. Paying 5k in taxes seems excessive for my small salary. I don't see any of the 160k. My husband takes care of the mortgage and everything else, and he says there's not much left over. Does it ever make sense not to work in cases like these? I enjoy working but work full days hourly, three days a week so it is a lot of time for not a lot of money. [/quote]

if you file together and have joint income then its taxed as a joint pot....? Each dollar over a certain amount is taxed at a higher percentage and you are taxed on AGI, not total income. Is he telling you that your 15k coming in is taxed at 35% in isolation because that's a dumb way of looking at it and I am not even sure the 35% is correct- although maybe he means combined with state?

Your combined income is taxed according to the following brackets if married filling joint:

$0 – $20,550	10%
$20,551 – $83,550	$2,055 + 12% of the amount over $20,550
$83,551 – $178,150	$9,615 + 22% of the amount over $83,550
$178,151 – $340,100	$30,427 + 24% of the amount over $178,150
$340,101 – $431,900	$69,295 + 32% of the amount over $340,100
$431,901 – $647,850	$98,671 + 35% of the amount over $431,900
$647,851 or more	$174,253.50 + 37% of the amount over $647,850

So you could just as easily say your 15k being the first 15k is taxed at 0%. 
[/quote]

Wow! 
I am a very intelligent and educated person and I have no idea that this is how taxes are calculated. Good news is that my DH does, as he is the family CFO and a finance exec and our family CFO.  What class is this - Personal finance, Economics, etc? I have a lot of time on my hands and would love to google and learn.[/quote]

That’s really basic finance I knew already when I started working, and I am not 
Even from This country [/quote]

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