Same Sex Returns vs Marriage Penalty - Page 3

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  • January 30, 2014 at 10:45 pm #183304
    san4596
    Member

    Anyone notice that the year Obama pushes the federal gov’t to recognize same sex marriage by filing MFJ/MFS returns for those married in a state within the US is when marriage penalties hit due to Obamacare? Specifically, the additional Medicare tax of 0.9% on MFJ income above $250K, whereas the 0.9% additional tax for a single filer applies to income above $200K.

    CPA EXAM: DONE!!!!
    Ethics Course: Passed
    Application Mailed: 3/16/15
    Professional Conduct Exam: 97
    Certification Date: 4/2/15!!!

Viewing 15 replies - 31 through 45 (of 90 total)
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  • January 31, 2014 at 4:14 pm #507452
    tough_kitty
    Member

    Study Monk! Shame on you!!!! To have a Mexican girlfriend and not wanting to learn Spanish!!! I am so disappointed in you…….

    As far as marriage, there are multiple factors…depends on two incomes and if you have kids…..Different scenarios have slightly different results. I haven't done many tax returns so I don't know exactly, but one thing is for sure – “married filing separately” is the worst filing status.

    So, you not gonna get married even if you have children??? What about a sense of FAMILY??? Sharing the same last name, etc?? When you are 40 yo you'll still call her your girlfriend??

    PS. I can tell you have zero tax knowledge….no research skills either, huh? Google is your best friend when it comes to translating things! 😉

    FAR: 81 (May 2013)
    BEC: 81 (July 2013)
    REG: 83 (August 2013)
    AUD: 82 (November 2013)
    California CPA since 1/30/14

    January 31, 2014 at 4:14 pm #507399
    tough_kitty
    Member

    Study Monk! Shame on you!!!! To have a Mexican girlfriend and not wanting to learn Spanish!!! I am so disappointed in you…….

    As far as marriage, there are multiple factors…depends on two incomes and if you have kids…..Different scenarios have slightly different results. I haven't done many tax returns so I don't know exactly, but one thing is for sure – “married filing separately” is the worst filing status.

    So, you not gonna get married even if you have children??? What about a sense of FAMILY??? Sharing the same last name, etc?? When you are 40 yo you'll still call her your girlfriend??

    PS. I can tell you have zero tax knowledge….no research skills either, huh? Google is your best friend when it comes to translating things! 😉

    FAR: 81 (May 2013)
    BEC: 81 (July 2013)
    REG: 83 (August 2013)
    AUD: 82 (November 2013)
    California CPA since 1/30/14

    January 31, 2014 at 4:20 pm #507454
    Gatorbates
    Participant

    For what it's worth, if you decide to get married for any factor other than love, it is destined to fail.

    If you decide NOT to get married for other reasons, but truly love the person, you are doing the both of you a monumental disservice.

    Just my opinions.

    Licensed Florida CPA:
    B: 71, 73, 79
    A: 83
    R: 78 (expired), 77
    F: 74, 74, 80

    It's finally freaking over.

    January 31, 2014 at 4:20 pm #507401
    Gatorbates
    Participant

    For what it's worth, if you decide to get married for any factor other than love, it is destined to fail.

    If you decide NOT to get married for other reasons, but truly love the person, you are doing the both of you a monumental disservice.

    Just my opinions.

    Licensed Florida CPA:
    B: 71, 73, 79
    A: 83
    R: 78 (expired), 77
    F: 74, 74, 80

    It's finally freaking over.

    January 31, 2014 at 4:20 pm #507456
    tough_kitty
    Member

    “When people hear we are both against marriage people always bring up the tax breaks” – that's so sad….. Maybe I am old fashioned, but I've always been convinced that two people should get married because they LOVE each other.

    FAR: 81 (May 2013)
    BEC: 81 (July 2013)
    REG: 83 (August 2013)
    AUD: 82 (November 2013)
    California CPA since 1/30/14

    January 31, 2014 at 4:20 pm #507403
    tough_kitty
    Member

    “When people hear we are both against marriage people always bring up the tax breaks” – that's so sad….. Maybe I am old fashioned, but I've always been convinced that two people should get married because they LOVE each other.

    FAR: 81 (May 2013)
    BEC: 81 (July 2013)
    REG: 83 (August 2013)
    AUD: 82 (November 2013)
    California CPA since 1/30/14

    January 31, 2014 at 4:22 pm #507458
    tough_kitty
    Member

    Gatorbates: Nicely said!

    FAR: 81 (May 2013)
    BEC: 81 (July 2013)
    REG: 83 (August 2013)
    AUD: 82 (November 2013)
    California CPA since 1/30/14

    January 31, 2014 at 4:22 pm #507405
    tough_kitty
    Member

    Gatorbates: Nicely said!

    FAR: 81 (May 2013)
    BEC: 81 (July 2013)
    REG: 83 (August 2013)
    AUD: 82 (November 2013)
    California CPA since 1/30/14

    January 31, 2014 at 4:34 pm #507407
    Gatorbates
    Participant

    Thanks 🙂

    I think Study Monk is holding out for you … which is why he is reluctant to propose to his now girlfriend. But I'm sure he'd have to stand in line.

    Licensed Florida CPA:
    B: 71, 73, 79
    A: 83
    R: 78 (expired), 77
    F: 74, 74, 80

    It's finally freaking over.

    January 31, 2014 at 4:34 pm #507460
    Gatorbates
    Participant

    Thanks 🙂

    I think Study Monk is holding out for you … which is why he is reluctant to propose to his now girlfriend. But I'm sure he'd have to stand in line.

    Licensed Florida CPA:
    B: 71, 73, 79
    A: 83
    R: 78 (expired), 77
    F: 74, 74, 80

    It's finally freaking over.

    January 31, 2014 at 4:42 pm #507462
    san4596
    Member

    Monk – getting married does not result in additional tax breaks, but will penalize those who are making over $250K. Do not make the decision on marriage based on taxes. My point was mainly in reference to same-sex marriage. Not being sexist, it has been proven that men tend to make more money. So, Dick and Harry are in love, and were married in one of the US States legalizing same-sex marriage. Even though they live in Texas, they are supposed to file MFJ/MFS on their tax return, and say the both make $150K each. Their AGI equals $300K, and they will have to pay an additional 0.9% on $50K. However, they could avoid the additional tax on $50K if they did not marry, since the single limitation is on $200K.

    Oh, I praise you girlfriend for being Mexican and obviously learning English. I have a problem with those who want to live and work in the US, but do not want to learn the language. Move to Japan, learn Japanese. Move to Mexico, learn Spanish. Move to the US, learn English.

    Kitty – I was simply stating that it is “like” double dipping, and did not say it was anything wrong. Being a homeowner you incurr more than just taxes, interest, and mortgage insurance. The gov't is basically giving renters a “free” deduction in place of these expenses they do not have, but they do incurr these expenses indirectly. Rent includes profit, R/E tax, mortgage interest, and many other expenses.

    CPA EXAM: DONE!!!!
    Ethics Course: Passed
    Application Mailed: 3/16/15
    Professional Conduct Exam: 97
    Certification Date: 4/2/15!!!

    January 31, 2014 at 4:42 pm #507409
    san4596
    Member

    Monk – getting married does not result in additional tax breaks, but will penalize those who are making over $250K. Do not make the decision on marriage based on taxes. My point was mainly in reference to same-sex marriage. Not being sexist, it has been proven that men tend to make more money. So, Dick and Harry are in love, and were married in one of the US States legalizing same-sex marriage. Even though they live in Texas, they are supposed to file MFJ/MFS on their tax return, and say the both make $150K each. Their AGI equals $300K, and they will have to pay an additional 0.9% on $50K. However, they could avoid the additional tax on $50K if they did not marry, since the single limitation is on $200K.

    Oh, I praise you girlfriend for being Mexican and obviously learning English. I have a problem with those who want to live and work in the US, but do not want to learn the language. Move to Japan, learn Japanese. Move to Mexico, learn Spanish. Move to the US, learn English.

    Kitty – I was simply stating that it is “like” double dipping, and did not say it was anything wrong. Being a homeowner you incurr more than just taxes, interest, and mortgage insurance. The gov't is basically giving renters a “free” deduction in place of these expenses they do not have, but they do incurr these expenses indirectly. Rent includes profit, R/E tax, mortgage interest, and many other expenses.

    CPA EXAM: DONE!!!!
    Ethics Course: Passed
    Application Mailed: 3/16/15
    Professional Conduct Exam: 97
    Certification Date: 4/2/15!!!

    January 31, 2014 at 4:44 pm #507464
    tough_kitty
    Member

    Gatorbates: Hahahahaaaaaaaa….No comment 😉

    FAR: 81 (May 2013)
    BEC: 81 (July 2013)
    REG: 83 (August 2013)
    AUD: 82 (November 2013)
    California CPA since 1/30/14

    January 31, 2014 at 4:44 pm #507411
    tough_kitty
    Member

    Gatorbates: Hahahahaaaaaaaa….No comment 😉

    FAR: 81 (May 2013)
    BEC: 81 (July 2013)
    REG: 83 (August 2013)
    AUD: 82 (November 2013)
    California CPA since 1/30/14

    January 31, 2014 at 4:58 pm #507413
    tough_kitty
    Member

    san4596: Yep, I noticed the same thing – the marriage penalty right around the time when they approved same-sex marriages….

    It may be true about men making more money then women, however, I have a few friends whose husbands make less…

    FAR: 81 (May 2013)
    BEC: 81 (July 2013)
    REG: 83 (August 2013)
    AUD: 82 (November 2013)
    California CPA since 1/30/14

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