My fiance and I have 3 kids. We're not married and she's a stay at home mom with no income. Would we benefit more during tax time by getting married?

Forum|Forum|1 year ago
November 30, 2024
2 replies
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70k income in Maine.

Best answer by xmasbaby0

If you were legally married, then you would have a much bigger standard deduction, making less of your income taxable.

Married Filing Jointly is usually better, even if one spouse had little or no income. When you file a joint return, you and your spouse will get the married filing jointly standard deduction of $29,200 (+ $1550 for each spouse 65 or older) for 2024. You are eligible for more credits including education credits, earned income credit, child and dependent care credit, and a larger income limit to receive the child tax credit.

Bsch4477

Employee

Filing married jointly is an advantageous filing status but is generally not used for the sole reason to marry. 😊

xmasbaby0Answer

Employee

If you were legally married, then you would have a much bigger standard deduction, making less of your income taxable.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

xmasbaby0

Employee

Agreeing with Champ @Bsch4477 -- there might be tax advantages to getting married, but much more importantly--are you prepared to take vows similar to these?

I, _____, take thee, _____, to be my (wife/husband/partner), to have and to hold from this day forward, in good times and in bad, in sickness and in health, until death do us part. I promise to love and cherish you all the days of my life.

devron2014Author

Thank you folks. The ONLY reason we haven't gotten married is because I could claim her as a dependant and got more back. It sounds lame but in we had kids young and we had to stretch every penny. I think we'll tie the knot after learning this. Thank you!