Tom Herman
speaker
200 appearances
3 recordings
1 series
first heard Jan 2020
last heard Sep 2022
Tom Herman’s voice in public audio — every appearance, attributed to the second.
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Appearances
They don't count for that.
So if you're giving cash, just the cash is better if you're taking the standard deduction.
But donor advised funds are enormously popular for a large number of investors.
Your tax filing status can have a surprisingly large impact on how much you owe in taxes.
there is something called the marriage penalty and the marriage bonus.
In some cases, two people, each of whom have a separate income, who are single and who get married, wind up paying more in taxes than they otherwise would if they'd remained single.
That's called the marriage penalty tax.
And that's why I know at least one couple
postponing the official ceremony until next year.
It can save them a large amount of tax.
Now, in other cases where you have couples where only one earns income, they may actually have a marriage bonus, that is getting married, can actually cut their tax.
So you need to crunch the numbers or ask your tax advisors to take a look at what your tax would be.
Depending upon your filing status, it can be surprisingly large.
I've been writing about this for many years.
It seems like a simple problem, but tax experts say it's very hard to fix this problem.
My pleasure, JR.
In many cases, people forget to include important deductions or credits or some other tax breaks, or maybe they've forgotten to include some income that they received.
Or sometimes after you file, you get a revised form from some financial institution saying, oh, we made a mistake on how much we gave you before on your form.
Here's the revised form.
That's right.
Showing 121–140 of 200 · page 7 of 10
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