Wednesday, December 4, 2019
If you tied the knot this year (or plan to this month), it’s worthwhile evaluating what getting married will mean for your 2019 tax situation. While many couples will see their taxes drop, some will face a “marriage penalty” — paying more than if they had remained unmarried and filed as single taxpayers.
In simple terms, the penalty comes into play when tax-bracket thresholds, and deductions or credits, are not double the amount allowed for single filers.
Read more here.