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Texas would say you're common-law married anyway if you live together.
Awful idea. Figure something else out to improve your tax efficiency.
Awful idea. Figure something else out to improve your tax efficiency.
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I almost hope this is a joke. Terrible idea on many levels. If my wife ever even mentioned this, I would seriously question her commitment to our relationship.
Especially when she asks your accountant if her new boyfriend is a tax-deductible recreational expense.Comment
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This post is hilarious for two reasons:
1. The question posed
2. The seriousness of the question posedComment
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I mean lots of people have wondered it, and lots on here as for getting married in the first place. Its just unwise to divorce for it, things would get sketchy fast in the relationship and some trust would be lost, even if the opposite of intended, just not a good move.
Whats really stupid is the tax structure making people even contemplate such maneuvers, why on earth make it such a way that makes this something someone would actually weigh the pros and cons for?Comment
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Of course you should get divorced.
Not only should you get divorced, but you should each then marry an individual with no earned income. There are numerous colleges and universities in Houston. Start hanging around the campus bars and I’m sure you’ll both find willing partners. Just think of the expanded tax brackets when both you and your ex-wife can both file as married filing jointly!
If you file for divorce yet in 2017, you might even be able to structure it best so that alimony paid by the higher earner is tax-deductible! I believe this option goes away with the new tax code next year.
Yes, I’m being snarky.
Merry Christmas to you & your beloved!
-PoF
Be sure to also have some children with the new college-aged spouses so you can get a tax break!
That sounds creepy!Comment
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Wait, can’t he just file separate returns?Comment
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When the bickering starts, there will be days when that piece of paper is the only thing holding you together.
Not even Will Faulkner could've written more eloquent words...Comment
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Put me down for a yes to getting divorced. And I mean that in the spirit you intended.
I'm not up on the laws in this area, but I think the objections that people have brought up so far are silly. I guess with issues of marriage, people tend to be more emotional and less logical than they otherwise would be.
Yes, if your relationship is so weak that essentially pretending to not be married for tax purposes will harm it, then you should avoid it. I'm sure many have relationships stronger than this, and would be fine. I mean if your marriage is so weak that it can't stand a "fake" divorce, then I wonder if you should be married at all.
Obviously I'm also assuming that marriage has no special religious, cultural, spiritual, or other significance to you. If you were so encumbered, then you probably wouldn't be asking the question.
If a paper divorce is going to save you money, but won't change anything else then you should do it. The key is the latter part. A lot of people are probably assuming that it's going to change the nature of your marriage. But you know your relationship better than everyone here. So, if it's not going to change anything and it saves you a lot, then you absolutely should do it.
Here's a couple of things to consider and for you to research:
1. I seem to remember that if you're divorced on 12/31 of the year, then you can be considered divorced for the whole year. So you could just get divorced and remarried every year and still be married most of the time. There is obviously cost associated with doing this, so if it outweighs the savings, then it's clearly not a good idea. To be honest, I'm not even sure if this is true, I just heard about it before and I'm not motivated enough to look into it myself.
2. If you would be considered common law married, does that count for tax purposes? I'm pretty sure that if both parties represent themselves as definitely not married, then it is by definition not common-law marriage, no matter how married your lives may seem to others. Problems generally arise when one of the two thinks they're married and the other doesn't
3. Some have suggested that you would face pressure from others when they find out about it. There is no reason you have to tell anyone else.
4. If you're divorced and your spouse is going to be making the big bucks, if you ever really want to get divorced, you're going to give up a lot. This is an unpleasant, but pragmatic consideration.
5. If you get divorced, then lots of things you take for granted (e.g. child custody, health care decision making for spouse, etc.) are no longer as automatic as they would be if you are married. You can recreate just about all of them by getting together with an attorney and signing a bunch of documents, but once again there is cost associated with doing this.
If after considering all of the above, you still think that you're going to profit from the divorce, then I think you should do it.
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I say no to divorce. What if in the future you decide to have kids and one of you will stay at home and need health insurance etc. what if someone gets disabled and can't work and needs spousal insurance. So many scenarios. Not worth the money.Comment
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I say no to divorce. What if in the future you decide to have kids and one of you will stay at home and need health insurance etc. what if someone gets disabled and can’t work and needs spousal insurance. So many scenarios. Not worth the money.
That's an easy one. Just go get married at that point when you need it for the insurance (or if anything else comes up which makes getting married better than not being married).Comment
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I don't think you should get divorced but applaud the ingenuity. Marriage penalty under new tax bill won't really kick into effect until household income is greater than $600k/yr.Comment
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