Announcement

Collapse
No announcement yet.

do i need a prenuptial agreement?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • #46
    @CM,
    but the OP is likely to have a nice tax benefit if his spouse is a low earner; she’ll put him in a lower bracket. I was happily surprised to find that my marriage provided a nice after-tax bonus.

    Since the TCJA, there is no longer a marriage advantage nor penalty, except above $600k jointly.

    Comment


    • #47
      You should consult a qualified attorney in your area.

      I don't want to call anyone out, but frankly, there is a lot of objectively bad advice in this thread.

      Again, you should seek qualified legal counsel.

      Comment


      • #48




        You should consult a qualified attorney in your area.

        I don’t want to call anyone out, but frankly, there is a lot of objectively bad advice in this thread.

        Again, you should seek qualified legal counsel.
        Click to expand...


        100 doctors in a room. they take a vote.  it's 99-1, so it's a tie.

        i'm shocked, SHOCKED, to hear that there is bad advice in a thread on the interwebs.



         

        Comment


        • #49




          @cm,
          but the OP is likely to have a nice tax benefit if his spouse is a low earner; she’ll put him in a lower bracket. I was happily surprised to find that my marriage provided a nice after-tax bonus.

          Since the TCJA, there is no longer a marriage advantage nor penalty, except above $600k jointly.
          Click to expand...


          FWIW, marriage penalties still abound, e.g.:  state & local tax deduction, NII, medicare tax, mortgage interest, etc.

          A good article in WSJ a couple days ago: https://www.wsj.com/articles/when-it-comes-to-taxes-sometimes-it-pays-to-say-i-dont-11563528633

           

           

          Comment


          • #50




            You should consult a qualified attorney in your area.

            I don’t want to call anyone out, but frankly, there is a lot of objectively bad advice in this thread.

            Again, you should seek qualified legal counsel.
            Click to expand...


            Lol, liked your post not knowing if you are referring to me. If so, I’ll take my meds and shut up (yeah, right?).
            Our passion is protecting clients and others from predatory advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

            Comment


            • #51




              @cm,
              but the OP is likely to have a nice tax benefit if his spouse is a low earner; she’ll put him in a lower bracket. I was happily surprised to find that my marriage provided a nice after-tax bonus.

              Since the TCJA, there is no longer a marriage advantage nor penalty, except above $600k jointly.
              Click to expand...


              That isn't correct. Try this calculator. Enter your income and then enter zero for your spouse's income:

              https://tpc-marriage-calculator.urban.org/

              As a single person, you'll enter the higher tax brackets at a lower income. When married with the same income (and none or much less for spouse), you'll have a higher standard deduction and more of your income will be taxed in the lower brackets:

              https://www.bankrate.com/finance/taxes/tax-brackets.aspx

              Things are different for dual MD households, but the OP's future wife will be a low earner.

               

              Edit: My after-tax marriage bonus is quite substantial.
              Erstwhile Dance Theatre of Dayton performer cum bellhop. Carried (many) bags for a lovely and gracious 59 yo Cyd Charisse. (RIP) Hosted epic company parties after Friday night rehearsals.

              Comment


              • #52
                “Things are different for dual MD households, but the OP’s future wife will be a low earner.
                Edit: My after-tax marriage bonus is quite substantial”

                Marriage is definitely on of the things that “Never let the tax tail wag the dog.”

                What could go wrong? Hmm, change the rules?

                Comment


                • #53







                  You should consult a qualified attorney in your area.

                  I don’t want to call anyone out, but frankly, there is a lot of objectively bad advice in this thread.

                  Again, you should seek qualified legal counsel.
                  Click to expand…


                  Lol, liked your post not knowing if you are referring to me. If so, I’ll take my meds and shut up (yeah, right?).
                  Click to expand...


                  Your advice looked good

                  Some are rendering legal advice that may or may not be accurate.

                  Comment

                  Working...
                  X