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LSDefine

Simple English definitions for legal terms

marriage bonus

Read a random definition: Reserve Board

A quick definition of marriage bonus:

Marriage Bonus: A term used in taxes to describe the difference between the amount of income tax a married couple owes when filing a joint tax return versus the amount they would owe if they filed separately as single individuals. This difference can result in a lower tax liability for the couple, which is why it is called a "bonus." The opposite of this is called a "marriage penalty."

A more thorough explanation:

The marriage bonus is a tax benefit that married couples receive when they file a joint income tax return. It refers to the difference between the amount of income tax that a married couple owes when filing jointly and the amount they would have owed if they had filed separately as single individuals.

For example, let's say that John and Jane are married and file a joint tax return. Their combined income puts them in the 22% tax bracket. If they had filed separately, John would have been in the 24% tax bracket and Jane in the 12% tax bracket. By filing jointly, they are able to take advantage of the lower tax rate and pay less in taxes overall.

The marriage bonus is beneficial for couples where one spouse earns significantly more than the other. By combining their incomes, they can reduce their overall tax liability and keep more of their money.

However, not all married couples receive a marriage bonus. In some cases, couples where both spouses earn similar incomes may actually end up paying more in taxes when filing jointly. This is known as the marriage penalty.

Overall, the marriage bonus is a tax benefit that can help married couples save money on their taxes. It is important to consult with a tax professional to determine whether filing jointly or separately is the best option for your specific situation.

marriage article | marriage broker

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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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