My wife hasn't worked in 20 years, now she took a part time job at a grocery store, how will that affect my taxes? I make around 100k/yr. We have 2 kids at home. She will make perhaps 10k this year.
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It’s complicated.
Her income is added to you income to determine your tax rate; so you could be pushed into a higher tax bracket. The additional income could reduce you Earned Income Credit (EIC).
The
only say to be sure is to prepare mock returns. That’s not easy with the online
software, but this tool will work. https://turbotax.intuit.com/tax-tools/calculators/taxcaster/?s=1. Enter your income first to see the regular tax. Then add her income to
see the effect.
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