17:15
I dont think so based on my very brief research
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LSDefine
Simple English definitions for legal terms
marriage bonus
Read a random definition: ad eversionem juris nostri
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.