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| *Ostroff, Fair and Company>>>United States Taxes |
It would cost us $6500 in new taxes if we get legally married. Can we just have a faith based marriage? |
She does not make enough to pay taxes, after we are married her income will become taxed. married filing seperate gives no real relief, but if we are only married before god and not to the state we would be able to both file as head of household, this would give us a huge tax benefit of $6500. Together we have two kids in college and one in high school, we cannot afford to be legally married. You have to get married before you can file as married, as it is illegal to do so, and even if you get married today, you still can't file as married as you were not married in 2006. Moreso you cannot both file as Head of Household. One of you has to file as single and the other as a head of household. not a marriage recognizable by law There is nothing wrong with living together unmarried. But do run the tax computations again -- it would be most unusual for a marriage to increase the tax bite, so check carefully. You think that $6500 is bad ...add child support and divorce lawer fees and 1/2 of everything you've got staying single looks pretty good. marriage should be more about love than money. do what feels right. no one has the right to judge. A faith based marriage may not be recognized to qualify for the tax benefits you are seeking. Sounds as if your souls are already married to one another, seek tax shelters and start investing your money in markets that will have your money make money for you and review ALL your tax write-offs throughout your household.. Let's not talk about rights and wrongs, shoulds and shouldn'ts, because that's up to you to decide. Given the current situation, you are already in a faith based marriage. However, because it is not acknowledged by law, there will be a lot of limitations. Taxes are one thing. Benefits towards families with children is another. Also, in the future, should anything happen, the both of you are not bound. Ultimately it is to protect you and to provide you with benefits that are given to married couples with children. There will be a lot of different legal hurdles in the future as well. Watch 'the pursuit of happiness' and realise that there is no excuse to improve yourselves unless you are happy with what you can provide for your kids now. |
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