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Marital deduction, often referred to as gift to spouse, is a type of deduction that allows a person to give his or her spouse a gift with reduced or no tax imposed upon the transfer, for transfers given in a calendar year. [18] Some marital deduction laws even apply to transfers made postmortem.
In the most extreme case, two single people who each earned $400,000 would each pay a marginal tax rate of 35%; but if those same two people filed as "Married, filing jointly" then their combined income would be exactly the same (2 * $400,000 = $800,000), yet $350,000 of that income would be taxed as the higher 39.6% rate, resulting in a ...
As for that itemized tax deduction for property, state, and local taxes, the TCJA caps this at $10,000 for every taxpayer whether he's single or married and filing a joint return. A couple who didn't marry could claim $20,000 in deductions on two separate returns but the married couple is limited to $10,000 on one return.
To better understand how eviction plays a role in each state, estimated eviction rates are included from the Eviction Lab at Princeton University, spearheaded by Pulitzer Prize winner Matthew ...
A little bit about myself: I work full time as a freelance writer, I share custody of my two lovely children with my former partner, my relationship with my fiancé is a dream…and my finances ...
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The first legally-recognized same-sex marriage occurred in Minneapolis, [3] Minnesota, in 1971. [4] On June 26, 2015, in the case of Obergefell v. Hodges, the Supreme Court overturned Baker v. Nelson and ruled that marriage is a fundamental right guaranteed to all citizens, and thus legalized same-sex marriage nationwide.
Aug. 21—Several local counties saw big increases in eviction filings last year — Butler County had the highest eviction rate in the state, and Montgomery County had the most new eviction cases ...