Escape the marriage penalty?
I know people who could face marriage penalties in the range of $5,000 - $15,000. One solution that I've heard people consider is having a wedding ceremony but not getting legally married. That they...
View ArticleRe: Escape the marriage penalty?
First, I'm not an accountant, but I thought that the Economic Growth and Tax Relief Reconciliation Act of 2001 eliminated the so-called marriage "penalty." However, I guess there is that thing with...
View ArticleRe: Escape the marriage penalty?
I believe the EGTRRA reduction of the marriage penalty doesn't begin phasing-in until 2005 and doesn't finish until 2009. Even then, it seems the reduction is limited to an increase in the standard...
View ArticleRe: Escape the marriage penalty?
The "marriage penalty" isn't $5000 - $15000. It varies widely based on the incomes of the people involved. When my wife was teaching, we had a small penalty. Now that she is raising our children and...
View ArticleClik here to view.
Re: Escape the marriage penalty?
<<First, I'm not an accountant, but I thought that the Economic Growth and Tax Relief Reconciliation Act of 2001 eliminated the so-called marriage "penalty." >>No.This is a very common...
View ArticleRe: Escape the marriage penalty?
One can certainly understand why the IRS takes the position it does. If the couple is living together and represent themselves as married, then a member of that couple has legal rights similar to...
View ArticleRe: Escape the marriage penalty?
<<One can certainly understand why the IRS takes the position it does. If the couple is living together and represent themselves as married, then a member of that couple has legal rights similar...
View ArticleRe: Escape the marriage penalty?
The marriage penalty is definitely real, and it definitely can be huge. As near as I can tell, it tops out at about $18,300 (for two people who each have $307,050 or more in taxable income - the top...
View ArticleRe: Escape the marriage penalty?
<<The marriage penalty is definitely real, and it definitely can be huge. As near as I can tell, it tops out at about $18,300>>Yup. I agree. That's just about the number I...
View ArticleRe: Escape the marriage penalty?
Each state sets the laws about what it takes to become married (and for that matter un-married).In some (maybe all) states there is what's called a common-law marriage. If a couple lives as husband...
View ArticleRe: Escape the marriage penalty?
Retirement benefits and next of kin medical decisions are a couple of things that can get very sticky for non-married co-habiting couples. If you have a wedding and don't finish everything up solely...
View ArticleRe: Escape the marriage penalty?
<<Retirement benefits and next of kin medical decisions are a couple of things that can get very sticky for non-married co-habiting couples.>>That's true. Which is why a lot of people I...
View ArticleRe: Escape the marriage penalty?
I simply want to know if it's legal to have a wedding ceremony, not get legally married, and then file taxes as unmarried individuals.Let me first say, I'm really just guessing, so don't do anything...
View ArticleRe: Escape the marriage penalty?
That's true. Which is why a lot of people I know don't want to be officially married until they're older.If you are in a car accident and are incapacitated, your non-wife partner can be prevented from...
View ArticleRe: Escape the marriage penalty?
<<If you are in a car accident and are incapacitated, your non-wife partner can be prevented from seeing you and will have no standing to make medical decisions. It has zip to do with age....
View ArticleRe: Escape the marriage penalty?
Well, that's really what I'm asking about. Does this just sound like fraud or is it really fraud? (Note that no one has answered my original question!)I've been travelling a bunch recently and can't...
View ArticleRe: Escape the marriage penalty?
Less, I wondered if you knew the answer to my original question.Thanks,Dave Guy
View ArticleRe: Escape the marriage penalty?
There are only about a dozen states that have a concept of common law marriage, so the problem of the IRS asserting marriage where there is no legal relationship shouldn't be that large. Furthermore,...
View ArticleClik here to view.
Re: Escape the marriage penalty?
Very interesting, Less. Thanks for taking the time to reply.Great to have you back!
View Article
