Is there a “Single Guy Tax”?
Video Summary
As a high-income earner, taxes can be a significant expense. Jake, a captain in the military with a combined income of around $300,000 from military pay, YouTube, and investment income, is exploring the tax implications of his growing wealth. He notes that his taxable income, after deductions, is expected to be around $209,425, putting him in the 32% tax bracket. Assuming he maxes out this bracket, his federal tax bill would be around $47,843, or 22% of his total income.
Jake then considers the hypothetical scenario of him getting married to someone who is not working, such as a stay-at-home spouse or someone going back to school. He notes that married filing jointly would result in a lower tax bill, around $35,200, a saving of $12,651, or 12% of his total income. However, he concludes that this “single guy tax” is not worth the potential risk of not being able to genuinely marry and being stuck in a fake marriage. Jake believes that the tax structure is designed to assume both adults in a marriage are working and earning roughly equal income, and therefore, there is no single person tax.
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