MINNEAPOLIS - There are plenty of money matters for couples to consider before tying the knot -- including taxes. Research shows that most taxpayers get a tax benefit from being married. However, some couples do end up paying more taxes than before they were married.
For example, a married couple filing a joint tax return could be pushed into a higher tax bracket than if they file individually due to new tax laws enacted as part of the fiscal cliff deal.
The marriage penalty can actually impact lower income families the most. That's because tax incentives designed to encourage people to work phase out as incomes go up.
So, if you're unsure which category you fall into -- check out the Tax Policy Center's "Marriage Bonus and Tax Penalty Calculator."
It will help you decide whether you or your spouse is subject to the marriage penalty.
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