Additionally, the Medicare surtax threshold for a single taxpayer is $200,000 and for a married couple $250,000, Ganoe added.
“The limitation on [state and local] taxes as an itemized tax deduction is the same for a single taxpayer as it is for a married couple, at $10,000. Social Security for a single person is taxed starting at $25,000 ... while a married couple’s is taxed starting at $32,000,” she said.
Steps that high earners can take to mitigate the marriage penalty include deferring the taxing of investment income for as long as possible. “Currently this can be done by maxing out retirement contributions [and] using annuities and life insurance as a retirement savings vehicle,” Bell said. “Another way is to delay Social Security benefits for as long as possible.”