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6 Ways Singles Can Cut Their Taxes

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Single people don't enjoy the financial support or security that a spouse can provide. That makes it all the more important to make smart financial decisions to minimize your taxes. Here are six tax tips for singles:



Selena Maranjian is a Motley Fool contributor. Follow her on Twitter.

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pearlnestor1

This piece wasn't real helpful. Most single people that I know of live paycheck to paycheck. If you start itemizing that just makes the IRS nasty towards you. Also single people are people who NEVER married and don't usually have kids, are on their own with no help from anybody.We stand alone, for better or worse. Of course the problem is a government who believes that single people can live off of air and don't have the right to have a prosperous life, couple that with employer's who have told me that even though I was in line for a promotion I didn't get it because so and so had a family to support and I didn't. It just seems like the whole world wants to punish you for not being married and making babies. I shudder every time more tax breaks are given to married people or people with children, because that means mine are going up. I don't want to get married, but may have to if I want a good retirement. I don't know if a marriage of convenience is against the law but I have considered it at times. I'll probably marry some bum off the street before I die just so my social security doesn't go to waste.

April 02 2014 at 12:19 AM Report abuse rate up rate down Reply
silver2364

None of them pertain to me.

April 01 2014 at 2:38 PM Report abuse +1 rate up rate down Reply
cincyburb01

A person who is divorced should not refer to themselves as "single,' but 'divorced.' As someone who has spent his entire life unmarried, I get tired of people on dating sites, etc., who call themselves single, when they have actually gone through marriage. Our English language has advanced far enough to where we have enough words to more-specifically define ourselves, without hiding behind vague or incorrect terms.

April 01 2014 at 2:35 PM Report abuse +1 rate up rate down Reply
1 reply to cincyburb01's comment
pearlnestor1

I know, I'm sick of it too. A single person is one who stands alone with no help and gets stuck paying a lot more in taxes because we are supporting everyone else's kid to go to school and welfare too. Singles get taxed at a higher rate and yet as a group we are not entitled to hardly any government programs if we are down on our luck. It's just tough cookies then. I just made it a point to live as simply as I can and I have made it my mission in life not to pay more taxes. I took a job that reduced my income by 10,000.00 a year. That really helps because otherwise that income would have cost me 12 to 13,000.00. a year. It's horrible to think that the money you earn is only a loan that you will have to pay back to the government. Watch your own back, because being single, no one else will, especially the government, they'll take all you earn and then tell you "it's for the children" like that's supposed to make it better. Of course us true, single, alone people are in the minority and we don't have a huge voting bloc so things are only going to get worse for us instead of better. There were times in my life when I thought of a marriage of convenience, still may do it. I'll have to crunch some number's. Also if you're single and die, you can't leave your social security to anyone though you slaved for it all your life. If I know I'm going to die, I'm going to grab any bum off the street and marry them just so someone can get the benefits I worked all my life for, government is NOT going to get away with taking my money!

April 01 2014 at 11:44 PM Report abuse rate up rate down Reply
INFRWKSNJ

1. Don't pay them. You won't have to worry about them for long. You'll have lots of time on your hands.

April 01 2014 at 12:57 PM Report abuse rate up rate down Reply