![]() ![]() No one would suggest that you tie the knot simply to acquire the tax blessings of the Internal Revenue Service. ![]() There are many good reasons to get married-true love and compatibility being among the best. Money left to a spouse isn't subject to the federal estate tax, usually protecting the deceased spouse’s estate from taxation until the surviving spouse dies.Eligible couples filing a joint return can make contributions to two separate IRA accounts – one for each spouse – and receive substantial tax benefits, even if one spouse is not working.If one spouse has a negative income and isn't eligible for certain deductions, the spouse with a positive income may be able to take those unused tax deductions and claim the other spouse’s losses as a tax write-off when filing a joint return.If one spouse has a substantially lower income than the other, filing a joint return could result in the lower income pulling the higher one down into a lower bracket, reducing your overall taxes.
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