When should we get married? ?

Question

My fiancee and I are planning a mid November wedding. She has one child and claimed head of household with her $30,000 annual income last year. I have one child and claimed head of household on my $100,000 annual income. We both are going to make about the same in wages this year. Would we be better off waiting until 2009 to get married, based upon our current tax status or would we benefit from filing married with 2 dependents?

Answer 1

This sounds like an algbra II problem I had in 10th-grade math ... that was 15 years ago. Yikes!

Answer 2

Yes, the tax bracket for married couples is (slightly lower) than filing independently.

Answer 3

Wow. That is a lot of stuff that just went over my head. But I guess it depends on what kind of wedding you want. If you want an elaborate wedding and to be financially stable, I think it would be responsible to wait another year. But it is really up to you. Good luck and congrats on the wedding.