While many people choose to live together unmarried for personal reasons, the government does offer certain tax benefits that are specifically available for married couples.
Now, we’re not going to decide whether this is fair or not – this is a finance site, so we’re going to stick to the dollars and cents.
There is certainly a lot more that goes into the decision to get married than just your tax return, but if you’re already planning on tying the knot, it’s important to know about filing a joint tax return.
It is 2024, so it should go without saying, but we have to make sure you know: the IRS recognizes same-sex marriage equally, and it has the same tax benefits as traditional marriage.
All of the information here applies equally to opposite-sex and same-sex couples.
What is the Married Filing Jointly Tax Status?
The Married Filing Jointly tax status allows married couples to report their total household income from both parties on a single tax return.
The income brackets for Married Filing Jointly (MFJ) are generally twice that for a single taxpayer.
When spouses file Married Filing Jointly, they are both equally liable for tax due or errors on the return.
- This means that if you make $50,000 as a single taxpayer, you would fall into the 22% tax bracket.
- However, if your joint income as a married couple is $50,000, you are in the 12% tax bracket.
- And if you and your spouse make $50,000 each, your total household income is $100,000, which would be taxed at the 22% rate.
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How to File Married Filing Jointly
In order to file married filing jointly, you have to be legally married and live together for the entire year. You and your spouse must agree to file jointly; if one of you wants to file separately, you both must file separately.
- If you got married during the year, you are considered to be married for that year if you lived together after you were married.
- If you were married and got divorced during the year, you are considered single for that tax year.
If you were married and your spouse died during the year, you can still choose to claim married filing jointly for that year.
Income Brackets for Married Filing Jointly
For the 2023 tax year, the income brackets for Married Filing Jointly are as follows. This tax return will be filed in early 2024.
|
Tax Rate |
Income Limits |
Tax Due |
|
10% |
$0 to $22,000 |
10% of income |
|
12% |
$22,001 to $89,450 |
$2,200 plus 12% of the amount over $22,000. |
|
22% |
$89,451 to $190,750 |
$10,294 plus 22% of the amount over $89,450. |
|
24% |
$190,751 to $364,200 |
$32,580 plus 24% of the amount over $190,750. |
|
32% |
$364,201 to $462,500 |
$74,208 plus 32% of the amount over $364,200. |
|
35% |
$462,501 to $693,750 |
$105,664 plus 35% of the amount over $462,500. |
|
37% |
$693,751+ |
$186,601.50 + 37% of the amount over $693,750. |
For the 2024 tax year, the income brackets for Married Filing Jointly are as follows. This tax return will be filed in early 2025.
|
Tax Rate |
Income Limits |
Tax Due |
|
10% |
$0 to $23,200 |
10% of income |
|
12% |
$23,200 to $94,300 |
$2,320 plus 12% of the amount over $23,200. |
|
22% |
$94,300 to $210,050 |
$10,852 plus 22% of the amount over $94,300. |
|
24% |
$210,050 to $383,900 |
$34,337 plus 24% of the amount over $201,050. |
|
32% |
$383,900 to $487,450 |
$78,221 plus 32% of the amount over $383,900. |
|
35% |
$487,450 to $731,201 |
$111,357 plus 35% of the amount over $487,450. |
|
37% |
$731,201+ |
$196,669.50 + 37% of the amount over $731,200. |
Married Filing Jointly: FAQ’s
Is married filing jointly always better?
It isn’t always better. It’s designed to make it easier for households where one spouse earns most of the money – for instance, a situation where one spouse earns most of the living and the other has a part-time job or does not work to take care of children.
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Most benefits of married filing jointly disappear if both spouses have roughly equal incomes. At this point, the income brackets for the joint income are about the same as those for single taxpayers. At that point, a tax professional could let you know whether it would be better for the couple to file jointly or separately, depending on their personal circumstances for the year.
What benefits can I get from filing jointly with a spouse?
You get a single return with your total household income. If you are married and choose to file a joint return, you have access to more tax credits, such as the Earned Income Credit, American Opportunity Tax Credit, Child and Dependent Care Credit, and the saver’s credit, that are not available if you are married and choose to file separately.
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Note that these credits are also available to single taxpayers. The government is not trying to force you to get married by withholding tax benefits from single taxpayers. However, if you are already married, it is usually advantageous to file a joint return rather than separate returns.
Are children affected by filing a joint tax return?
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If you are married with children, filing jointly can make your tax return easier. If you are married and file jointly, you and your spouse can both claim the children as dependents to obtain tax benefits such as the Child Tax Credit and the Child and Dependent Care Credit.
However, if you file separately, you will have to decide who claims the children on their return, which can get messy.
Does the government want us to get married?
Not necessarily. If you are currently unmarried, living with a partner, childless, and you both earn roughly equal amounts, there is no significant tax incentive to get married and file a joint return. However, if you support a nonworking partner or are unmarried and have children with a live-in partner, you could derive tax benefits from marriage.
The main incentives offered by the married filing jointly tax status make it more attractive for most already-married people to file jointly rather than separately.
