Hello Liz J,
There are a lot of variables that may come into play in regards to your income taxes after moving from married filing joint to single.
Although I'm not able to predict what the tax laws will be for 2024 or 2025, I can say that the biggest difference, assuming that there are no kids involved, is that your total income will now only consist of your income and your standard deduction will be cut in half.
The 2023 standard deduction is $13,850 for single filers, $27,700 for joint filers or $20,800 for heads of household.
Without knowing what your family income is, what your income is and what your spouse's income is, it's hard to say what the overall tax implications will be.
However, if you were the main income provider, you may want to increase the amount of taxes paid per paycheck. This will help to make sure that you are paying close to the correct amount in taxes during the year.
Your tax bracket could be higher once you file as single, as opposed to filing jointly.
I hope this helps.
Thanks,
Sean
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