There are no benefits for tax purposes if you're married versus being single.
Single people, while more physically active, have poorer diets than married people. Married people also have built-in social and emotional support in each other, are less likely to participate in risky behaviours (such as problem drinking) and have better economic conditions compared to single people.
Married couples earn an average of $146,000 per year. Married people's incomes are 26.2% more than single people's on average.
Staying separate can sometimes help with student loans. You may save tens of thousands of dollars if you're pursuing income-based repayment, including pursuing Public Service Loan Forgiveness. This makes sense especially if you are with another high-income earner.
Compared to unmarried couples, those who have legally tied the knot tend to have more legal rights. From being named next of kin in an emergency to being entitled to health insurance benefits, couples gain several financial and personal legal rights once they get married.
A couple's combined income may well place them in a lower tax bracket than the higher-income spouse would pay as an individual. If each spouse has a different employer, each can choose the better of two health insurance plans. Car insurance and home insurance coverage are cheaper for two than for one.
Why must taxpayers identify themselves as single or married on the tax return? (Tax rates differ, depending on what filing status the taxpayer chooses. For example, single taxpayers pay tax at higher rates than do married taxpayers who file joint returns.)
Married men and married women live, on average, two years longer than their unmarried counterparts. One reason for this longevity benefit is the influence of marital partners on healthy behaviors. Study after study shows that married people eat better and are less likely to smoke and drink excessively.
If you get Social Security disability or retirement benefits and you marry, your benefit will stay the same. However, other benefits such as SSI, Survivors, Divorced Spouses, and Child's benefits may be affected.
People become more satisfied with being single around age 40. There's a common misconception that older singles are the least happy with their relationship status. But actually, MacDonald's research suggests that starting around age 40, singletons become more satisfied with their solo lives.
A happier life after getting married may not just be in fairy tales. It's in the data, too. Adults who are married report being far happier than those in any other relationship status, according to a Gallup Poll published Friday.
Thanks to laws, policies, and general practices that favor married couples, single people end up paying more than married people—while earning less and missing out on important benefits. The costs may add up quicker than you think. It all boils down to one key point: Being single could be financially devastating.
Generally, married filing jointly provides the most beneficial tax outcome for most couples because some deductions and credits are reduced or not available to married couples filing separate returns.
Marriage could expose you to each other's creditors, insurance risks (health care, home, and auto), higher income tax rates, and long-term care costs. Marriage could make you financially responsible for your spouse's dependent children.
A 2021 Census Bureau report found that married adults tend to earn substantially more than unmarried adults, and have three times the net worth.
86% of millionaires are married.
Research has shown that the “marriage benefits”—the increases in health, wealth, and happiness that are often associated with the status—go disproportionately to men. Married men are better off than single men. Married women, on the other hand, are not better off than unmarried women.
Married men and women were found to have lower rates of mental illness than unmarried individuals (Gove 1972; Horn et al. 2013). As these findings illustrate, the study of well-being as a function of relationship status had traditionally compared unmarried people to their married counterparts.
For example, the standard deduction for the 2025 tax year is $15,000 for single filers, up from $14,600 in 2024 The deduction for taxpayers who are married and file jointly for the 2025 tax year is $30,000, up from $29,200 in 2024. In this case, the standard deduction is doubled for joint filers.
Married filing jointly is the most common filing status for married couples. This status has the highest standard deduction and some of the most beneficial tax rate brackets. You file together and report combined income, along with your combined deductions and qualifying credits on the same return.
It provides breathing room to prevent further conflict and gives each person time to reflect and heal. Separation can also allow to experience independence while keeping your relationship legally intact. The legalities of separation also make reuniting easier, should you choose to do so.
The research seems clear that even if marriage benefits both men and women, there is more of an upside for men. Men derive greater health benefits from marriage than women. Married fathers receive an earnings boost while mothers receive a penalty. Women are disproportionately likely to end marriages.
10/26/2023 — Key takeaways: Marriage can offer significant financial benefits such as pooled resources for retirement, access to spousal Social Security benefits, insurance coverage and discounts, and potential tax advantages.