On average, all other variables being equal, who pays more in annual income tax, person filing single, or filing married filing separately ?
- RICKLv 74 weeks ago
with ALL other variables being the same they would pay the same.
- SlickterpLv 71 month ago
That depend son the all other things part. Probably the MFS person, as they lose a bunch of deductions and credits.
- EvaLv 51 month ago
MFS may pay more due to some credits not being available and they may have to itemize at a lower amount than the standard deduction. If all they have is a W2 there should be very little, if any, difference.
- StephenWeinsteinLv 71 month ago
Married filing separately would pay the same or more. Single would pay the same or less.
- What do you think of the answers? You can sign in to give your opinion on the answer.
- JudyLv 71 month ago
is the same unless credits are involved, then there are special rules for MFS
- AmyLv 71 month ago
Married filing separately.
For a very simple tax return, they might be equal. But the tax code wants married couples to file jointly. Therefore many deductions, including the Earned Income Tax Credit, are not available to MFS. The highest tax brackets start earlier for MFS than Single.
- Max HooplaLv 71 month ago
Its about the same overall.
- GLv 51 month ago
Well it's not Donald Trump.
- Wayne ZLv 71 month ago
It can vary a bit, however MFS would generally be higher.
For example, people filing MFS can not deduct Student Loan Interest which is an expense that many young people have.