TAXES: Family Split

It now seemed certain that the new G.O.P. tax bill, whenever it came, would extend to all U.S. taxpayers the benefits now enjoyed only by the citizens of thirteen "community-property" states* and Hawaii.

In these states, husband & wife legally constitute a fiscal partnership, in which each owns half their combined income, even though the husband may earn all of it. By splitting their income and filing separate returns, they can pay taxes in a lower income bracket at a considerable saving. For example, a couple with two children and a net...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!