Reply to Taxed a lot because spouse makes six figures.

Forum Index » Jobs and Careers

Reply to "Taxed a lot because spouse makes six figures. "

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][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]

Intelligent and educated people don't need to explicitly say they are. It usually comes across (not in this case, at all). Also, saying your husband is family CFO is cringe-worthy and not something you want to ever tell someone.

Please develop some social graces. Also, a simple web search on basic personal finances can tell you everything you need to know in that department. Surely you know how to Google?

Sorry for being rude, but your behavior is exceedingly strange for an adult with kids. At 19 I came to this country, went to grad school and filed my own taxes, despite being parachuted into a system and language that were not my own. If I can do it, so can you.

[/quote]

PP, you are the one who needs to check yourself. It’s amazing that you were smart and mature enough at 19 to immigrate here and figure this stuff out. That makes YOU special, not everyone else an idiot. OP has not had a reason to learn this until now, and she is grateful for your help. It is possible to celebrate yourself without shaming others.[/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