Readers reported whether and how much they are paying a marriage tax penalty or receiving a marriage tax bonus.
Marriage Penalty Under Obamacare ACA Premium Subsidy
Married couples are at a disadvantage when it comes to getting the premium subsidy under the ACA.
2013 Tax Brackets
Congress passed and the President signed American Taxpayer Relief Act of 2012. This new law extended many expiring tax cuts and created a new tax bracket for higher income taxpayers. Here are the new tax brackets for 2013: Single 2012 2013 Standard Deduction $5,950 $6,100 Personal Exemption $3,800 $3,900 10% $8,700 $8,925 15% $35,350 $36,250 […]
Marriage Tax Penalty and Unit of Taxation
The marriage tax penalty refers to the fact when two people marry, they pay more taxes than they do when they are single. This happens when the two persons have roughly the same income. The mirror image of the marriage tax penalty is the marriage tax bonus, that is when two spouses have disparate income […]