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IPFS News Link • Marriage

A financial planner explains why she chose not to get married -- and it has to do...

• http://www.businessinsider.com, ANTONIA FARZAN

Jill Schlesinger, a business analyst for CBS News, financial planner, and the host of Jill on Money, has a pragmatic view of marriage.

On Marketplace Weekend, she explained why she and her long-term partner have decided not to get married.

"We're so unromantic!" she joked to host Lizzy O'Leary. "No, that's not the reason. Honestly, it would be a massive marriage penalty for us." 

Schlesinger is referring to the amount that their taxes would increase if they filed jointly.

The "marriage penalty" occurs when the amount that a couple owes is higher than both their individual tax liabilities would have been if they'd stayed single.

High income couples and couples who earn similar salaries are the most likely to be affected.


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