When filing as "married filing joint" how do you figure each spouses portion of the taxes due or refund? As an example:
Husband's taxable income is 100,000
Wife's taxable income is 50,000
Using standard deduction of 29,200, that brings the household income to 120,800.
This brings the husband's adjusted income to 80,436 (100,000 - 67% of standard deduction)
and the wife's adjusted income to 40,364 (-33% of standard deduction)
This means the husband's Fed tax bill would be 17,695 (22% marginal rate)
and the wife's portion would be 8,880. The husband would pay/get refunded any amount withheld from his income above or below the 17,695 and the wife the same for the 8,880.
Does this look like a fair way to split the two incomes when filing jointly?
