40 Financial Advantages of Being Married

Some couples have to pay a “marriage penalty” when their income bracket changes. Credit: Shutterstock

39. The So-Called “Marriage Penalty” Applies to Very Few

There are some people out there who never want to get married because they are afraid of the dreaded “marriage penalty.” This is when two partners making a lot of money are bumped up to a higher tax bracket once they combine their income into one household. However, this only affects people who are already in the upper-middle class or considered wealthy.

You should do the math before deciding how to handle your taxes with your spouse. Credit: Shutterstock

The vast majority of Americans who get married, one partner is making significantly more money than the other. Or, one partner gives up their job so that they can raise their children at home. They almost always have tax benefits, rather than the penalty.