They say: “If you are a single, every day is a tax day’’. Unfortunately, it is true. Being single in the United States can be very expensive, since there are lots of additional taxes imposed by the IRS. Thus, single people must pay taxes for being single; sounds weird, right? So let’s try to figure out all the hidden aspects of this issue, and try to understand why being single is so expensive in U.S.
What about Social Security
We totally agree with you, no matter whether you are married or not, each American resident has to pay for Social Security. But did you know that after your death, your social security benefits go back into the IRS base, while married people can enjoy their spouse’s benefits from their previous marriages? So, during your lifetime there is no chance that somebody can leave their Social Security Benefits to you.
You may probably not know that by contributing to your IRS account, you will be charged by penalties in the future. Guess what? Right, married people are exempt from it, since there are special penalties solely for single residents!
This sphere is also very unfair with single people, since the cost of health care is comparably much higher for single people.
What About Income Rate?
Again, income earned by single people, is taxed higher than the income of married people. That’s cause there is a special single penalty for single people.
What about Insurance?
By being single, you cannot qualify for the special discounts for couples or families, including restaurants, and travelling. It is totally true: married people pay less for such popular services like travelling!
Additionally, if you have any questions, single or otherwise, cornering your taxes, and tax filings reach out to Prestige Auditors professional tax experts, and we will try to help you reduce your taxes, by providing you with unique types of tax services. Additionally, we will carry out the process of tax filling in accordance with the IRS requirements.