Hi! I need help with Tax. I’m making 58k, my husband is making 130k(total188k). Should we file tax married jointly or separately to pay less tax? If separate, I’m at 22%, his 24%; if jointly we all fall into 24% bracket. Thank you!!

Post Photo
like
Posting as :
works at
You are currently posting as works at

The tax brackets are marginal. 24% may be your final bracket but only applies to income you two make above $178,151 for joint filing.

In general it is better to file together because you can have double the amount of income before the tax bracket jumps. Just remember that these are marginal rates, so you have to calculate each bracket separately (10% for the first $10,275, 12% for the next $31,500, and so on).

helpful

You’re probably going to take the standard deduction and go with married filing jointly. If you input your W2/1099 info into turbo tax or similar software, it’ll tell you which option gives you the larger refund.

helpful

Thank you so much!! We will file jointly, thanks again very helpful

like

Far from a tax expert but I always thought it’s better to file jointly bc you get the deduction. It’s not just about the brackets.

Adding more detail: You only get to deduct the interest for your mortgage if all your deductions exceed the standard deduction ($12.2k single, $24.4k filing married) and if you don't hit the SALT cap ($10k).

helpful

I’ve heard that it’s always best for couples to file jointly if one spouse makes significantly more than the other, especially if you’re both just going to use standard deductions.

Tax software/services would probably be worth looking into if you don’t feel like doing all the math yourself.

Related Posts

Hi Fishes,
I have recently joined Deloitte and have to submit my HRA declaration, my work location is Hyderabad and even i staying in Hyderabad on rent but my owner refuse to give me her PAN card details.
I can submit my parents PAN details ( both are retired but they stay in Jharkhand) instead of my owners
Can you guys plz suggest ?

like

Bi-annual plug to say I’m a realtor in Charlotte, NC if anyone needs help buying a home or investment property. DM me!

like

Any good ETFs to invest Roth into?

like

Any good book recommendations for profitability and performance management for banking industry? Or books on best practices for calculating economic capital?

like

Currently 23yo with $65k in cash and $14k in student loan debt. Not sure what the best course of action is. What would you do?

like

I have got an offer based in Boblingen, Germany with 60k euro as fixed. Will it be enough for a couple with a 3 year old kid ? My major expense would be accommodation, groceries, kid’s school and transportation. Please do let me know your valuable inputs. TIA

like

How big is to big for an initial investment property. Theres a 20 SFH portfolio for sale by me for about a mil. Is this to big to start with initially? I'm less worried about the Financials (feel comfortable on that end) and more worried about the managerial aspect.

like

About to apply for an apt that’s asking for a $2000 good faith deposit. I’m still a little undecided about the apartment (I have another option in Jersey) Do I wait it out or just go ahead & apply? Honestly don’t know if I’ll feel 100% sure any time soon. First time living in NY & first time renting post college😭😭

like

SNAP - 5/22 $18p, b/e $16.86

like

Is 94K GBP a good salary for 10 years experienced in the UK ? Can I live with my family with this package in London and save some money ?

like

hi,
i got a offer letter from hsbc before baground verification but i taken education loan for my MBA this year 2022 but my tenure to pay is not occurred. i had credit score of 728 . is there any chance of getting revoke of offer letter

like

For any of you real estate investors, what tools or sources did you learn from when getting started. Can’t find a mentor currently so want to find some highly recommended books or videos. If focused on the tri-state area (NY, NJ, Long Island mainly) that would be even better. My hope is to buy and rent out a apartment while also owning a house and house hacking that by renting part of it out. Trying to understand all the steps, traps, and how to find if it’s a good investment.

like

Any realtor recs? Looking to buy in Seattle

like

How to bring tax liability to zero for 15 lpa ctc?
Can I claim hra for less than one lakh per FY and Maximum housing loan benefits?

The rental place and property under loan are in same city.. Parents stay in rental ( I pay rent) and I have purchased new flat in same city for myself.

likefunny

I'm currently a property accountant with an MBA in finance. I desire to earn more income considering my credentials and experience. I currently earn 93k and striving to get to 150 or even 200 to be able to live the way I want to live, pay for good schooling for my children, eat organic, travel etc. Even to buy a nice house in a great neighborhood is at lease a million. I'm looking for salary comparisons and recommendations to reach my financial goals

funnylike

Are you able to withdraw funds out of your anchor and mirror ?

like

Which bank account is better for salary account?

HDFC
Axis

like

How does one decide whether to buy in a normal brokerage account vs. Roth IRA?

like

I just left my pre-seed startup that was running out of cash (we made $100,000 in revenue this year, and sunk $1m in costs). I was making $40,000 as a developer (plus 20k stock options at $1/share per year) and they refused to pay me any more money. I have 17,000 vested stock options, total number of shares at the time of my contract was 4million. I’m a bit confused about share dilution and if it’s worth it for me to buy some of my stock options… thanks in adv!

like

Does EY let you keep Amex rewards points?

like

More Posts

Any Hans Zimmer fan here ? Please let know the playlist you listen to

like

Any tips/scripts on how to negotiate for better salary without turning down what the co is offering?

like

I need your advice. I got an offer to join Morgan Stanley in Canada and want to know what my salary range is there. I have 10 years of experience in investment banking and will be a 5 member family living there. Can i get 200k per year, please advise. Appreciate your help on this.

Recruiters, can you please give us freelancers the avg range for jr, mid level, and sr level day rates in your city?
My made-up example:
New York
Jr $500-700
Mid $700-$900
Sr $900-$1500

Thank you.

like

I would be recently joining as a credit analyst in a global bank.

What are the exit opportunities for this profile?

Can someone switch to FP&A or IB from here?

like

Will working in this role with these responsibilities as a “Growth and Content Strategy Senior Analyst” help me get into data analysts roles?

Post Photo
like

How long does it take to get an offer letter once the mail offer is discussed and thru..I have been waiting for more than 10 days but there is no approx. TAT indication

like

My wife and I are moving to Boston from overseas (we’re from Italy and we’ve recently won the diversity visa green card lottery).

We are looking to rent a 1BR starting in January, ideally for ~$3k/month. I’ll be working in the downtown area.

Do you recommend we go for a serviced/luxury apartment (e.g. Montaje, 345 Harrison, etc.) or hire a broker to get a “normal” apartment?

Any managed buildings recommendations within our budget? Also, what are some good brokers we could work with?

Thanks!

like

Hi everyone

I am having 3 years and 8 months of experience in building Web and Microservices using technologies like Java, Spring Boot, Spring Cloud, Spring Security, Hibernate, AWS, Docker, Kubernetes, JavaScript, React.

My CTC : 11.25 LPA Fixed and 56k bonus

How much can I expect with these experiences.

Currently I am quoting 18 LPA and sometimes 18 to 20 LPA

Thank you

like

Biden's rally yesterday looks lit.... Those little circles seem like a fun time

Post Photo
funnylike

Any other coat brands besides Moncler that make those glossy nylon down jackets?

Post Photo
like

I’m trying to find out if this consultant company is good or no, did anyone ever work under or with Paco Group? Any review will be really appreciates

like

What is the max salary offered by Wipro for B2 band?.....

like

Can someone provide a referral at Honeywell? Would be a great help!

Microsoft Azure
Aws
Developer, administrator, architects

Remote support from india, for USA customer

like

Accenture Federal Services a good place to work for? New grad going to software engineering analyst in NoVA

like

I’m prepping someone’s tax return who I see everyday on tv. It’s kind of cool being privy to a celebrity’s confidential financial information. 😁 I’ve also prepped a famous athlete and actor last week.

likeuplifting

Additional Posts in Salary & Compensation

Been at SEI 10 years, star of every team that I've worked on, and only make $87,000 annually with a $6,500 IC target. Asking for an increase this June to take me to $100,000 in some combination of salary and/or stock options. Any tips for asking for stock options in lieu of a company being able to meet a salary request? TIA

like

Does anyone have a tool/ site that calculates what the offer would need to be to leave a current role, all things considered? Of course, it’s anything more than you’re making now, but I’m looking for something that accounts for LTE, the hassle, risk, etc.

like

What would you say is the minimum amount of money that your household would have to make before considering to have two babies?

like

Can anyone suggest a base or generic career path for a marketing coordinator? I’m trying to make sure I define it not only fair with the market but my goals. I have 5+ experience in social media strategy, budget tracking, trade shows/conferences and now have intermediate experience in email marketing and MQL reporting. My long term goal is to be an Integrated Marketing Manager. Any suggestions and help are welcomed! Oh I’m also in the Tech space as well.

Recently got an offer for 80k at Morgan Stanley as a customer service associate. Can anyone provide some insight on where this offer lands (high low) in the entry level/csa marketplace? Located in a major city

like

Asking for my husband…

We both think he’s underpaid.

Masters degree in architectural engineering (focus on mechanical)

Works on large job sites doing commissioning and project management as a “commissioning engineer” (large in sq footage and high profile jobs for a large Midwest city)

8 YOE on large projects in the Midwest

He’s making 75K.

like

Product Managers in the Banking and Payments world, is the below a near accurate representation of job levels/job bands in your industry?

Got offers from a bank and a payments company so trying ensure levels are comparable/similar. Job description are almost the same.

Currently a VP at a bank. Got an offer for SVP at another bank and Director for a payments company.

JPMorgan Chase Citi Bank of America American Express Visa Mastercard

Post Photo
like
like

Curious to know what would be the base salary range for Project Managers in IT implementations in the Houston, TX area. 14 yrs total IT experience and 5 yrs as a PM.

like
like

Interviewing for a Senior Brand Manager (SBM) role @KraftHeinz in Chicago. Looking for insight on realistic salary range and variable compensation. Currently an SBM with 6 years experience in brand management and 6 years sales experience. TIA!

like

I had a very positive experience interviewing with Amazon for an L5 Technical Writer role. I originally applied for a lower level writing role, ending up acing my Loop, and was passed on to speak to the hiring manager for the L5 role.

Given the positive tone of our conversation, I expect to receive an offer this week.

Can somebody tell me what kind of base salary/bonus/RSU ranges I should aim for? I'm transitioning to tech and have 10+ years of professional writing experience. PNW based.

like

What is the comp for AstraZeneca senior scientist level?

like

What’s a good salary for BlackRock Financial Tech Implementation Consultant - Associate level?

Morning everyone! Does anyone have insight into what a nontechnical senior manager base salary should be at Apple with 10 YOE (based in either Austin or Cali). I’ve tried looking at the salary sites many suggested on this site but am not finding much for non technical roles. Thanks!

like

Does anyone have any insights on what a typical Sr. Associate Director makes at Boehringer Ingelheim? I have a range of 170-180k which I think is fair but don’t want to be underpaid. Also, any information regarding retirement planning or medical/dental benefits would be helpful. Haven’t gotten much out of HR. Thanks in advance!

like

I recently found out I was “promoted” or giving a higher title, same pay. I was told HR was updating employees titles based on the work they do… Is that even a thing?? My mid yr review is coming, should I just ask for more money?

like

I have a interview coming up for a Program Manager Role and curious if anyone here is a program manager and wouldn’t mind sharing their Salary and top 3 responsibilities. I want to make sure I am being compensated fairly.

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal