Submitted by [deleted] t3_10nz3xx in personalfinance
KRed75 t1_j6c2ytr wrote
You'd have to be making $120K and single with no dependent children with only the standard deduction to be paying $20K in federal taxes. Or $160K and married with no dependent children with only the standard deduction to be paying $20K in federal taxes.
If you are making significantly less than this than something is off with your calculations.
If you are making around that much, it's time to get married and have a couple of kids! Kidding of course but it does significantly lower your tax liability.
At $120K gross, married filing jointly with 2 kids and tax credits associated with them, pre-tax deductions such as healthcare and 401K you can get your federal tax liability down to under $2000.
Pure_Chart684 t1_j6edtgn wrote
Depends a lot on who you marry. I married someone who makes about the same as me, and we got effed on taxes. The marginal tax brackets for married people aren’t double the single brackets. We owed 8k the first year. We did just have a kid so we’ll see how much that helps.
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