Most VA taxpayers face a severe marriage penalty because there is only one tax table. Married couples who file a joint return may be eligible for a deduction of up to $259 if each spouse received income during the year, although joint taxable income must be over $3,000 to qualify.
Here is the lowdown on your Federal taxes and marriage:
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All the Best!
Gordon Achtermann
Your Best Path Financial Planning
8280 Willow Oaks Corporate Drive, Suite 600
Fairfax, VA 22031
T: 703-573-7325
This content is developed from sources believed to be providing accurate information, and provided by Twenty Over Ten. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.