◼ Of all the known reasons for getting a divorce, we bet you never heard this one before. You both make too much money to stay together! - JACQUELINE LEO/The Fiscal Times
Sounds ridiculous, right? But the new fiscal cliff tax law that saved 99 percent of the country from massive tax hikes made a beeline for love-struck yuppies.
The new law raises taxes on couples making more than $450,000 and individuals making more than $400,000. When their accountant told them they may have to limit their deductions because of their joint incomes as well, they asked her to run the numbers and come up with an alternative.
At their next meeting, she presented them with two options—file as a married couple and pay the piper, or divorce and file as “single.” As it turns out, George and Martha would save over $27,000 a year if they divorced. And so they did. But they’re still together, in some ways closer than ever.
They started their own business geared to couples like them called “MisMatch.com.” They analyze people’s taxes based on marital status, types of investments, etc., and try to save people a bundle. George and Martha’s next step—design new software to compete with the big tax programs for people at all levels of the tax code….and be able to change it on a dime.
