The US tax system faces three objectives that are intrinsically conflictive; to be progressive, treat families as a unit, and provide marriage neutrality. For fifty years that the last one has not been met. However, the Tax Cuts & Jobs Act reduced the “penalty” for many married taxpayers. This blog shares an article from Accounting Today written by Roger Russell.
https://www.sharrardmcgee.com/blog.php
Changes in your marital status and other areas of your life may impact your tax planning. Your CPA at Sharrard, McGee & Co., PA can help you make decisions that will minimize your tax liability should you be facing significant life changes. Call us at (336) 884-0410 in High Point or (336) 272-9777 in Greensboro.
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Sharrard, McGee & Co., PA
800 Green Valley Rd #200, Greensboro, NC 27408