Cupid and Taxes

Photograph by Alejandra Parra/Bloomberg Close

Photograph by Alejandra Parra/Bloomberg

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Photograph by Alejandra Parra/Bloomberg

February 13, 2013 - Just in time for Valentine’s Day, those romantics at the Tax Policy Center have issued a handy tax calculator for determining whether saying ‘I do” will cost you at tax time. Sometimes it pays to be single but not always. According to the tax center, ”couples in which spouses have similar incomes are most likely to incur marriage penalties, and couples in which one spouse earns all of the couple’s income never incur a marriage penalty and almost always receive a marriage bonus.”

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