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Additionally, however, there are certain changes you should be aware of when you go from filing taxes as a single person to filing as a married couple. See: Why You Should Line Up a Tax Preparer ...
Your best bet is to figure out what your withholding should be via the IRS tax withholding estimator and then to adjust your amount as soon as you can. Read: Why Your W-4 Is More Important Than ...
Check out the latest Zacks Personal Finance 101 video for the key differences between single and married withholding.
Married couples filing separately does not create an identical situation to the two parties filing as single. There are different brackets for unmarried taxpayers from the ones for married taxpayers who file separately. Unmarried taxpayers enjoy wider tax brackets and so pay less tax on the same amount of income. [11]
Under these tax rates, two single people who each earned $87,850 would each file as "Single" and each would pay a marginal tax rate of 25%. However, if those same two people were married, their combined income would be exactly the same as before (2 * $87,850 = $175,700), but the "Married filing Jointly" tax brackets would push them into a ...
Single vs. Married: The Filing Options Before talking about how your taxes will change, let's consider the IRS definitions for when you can use the single vs. married filing statuses.