My partner of 8+ years and I just had our first child this year. I own a small business and will likely gross approx $60-80,000 this year. My parter works for a corporation (Trader Joe's) grossing approx $65, net $55,000. We also just bought a home this year approx $400,000.
We do plan on getting married, but I am curious if it's more financially sound to wait a year and file as single female w/dependent this year. Will that produce any worthwhile tax breaks?
To note: I am working on incorporating my business this year. So that should help with getting double dinged on self employment taxes. I am also paying approx $350/month in a personal health insurance plan and when we marry I can get into his for $50/month. So we will be saving $300 month when married.
I would love some insight!
Edit: Mom brain had my net/gross numbers switched!
Submitted September 10, 2017 at 11:49PM by starlightstarbrite http://ift.tt/2wTXLob
