SO and I got engaged in August. We were planning on a longer 2-3 year engagement.
I started on my 2017 taxes and learned that her being on my health insurance, means that my company counts the premiums they pay on her behalf as something called "imputed income" for which I am taxed. As a result I owe a surprise $2,900 more in taxes for 2017 that I anticipated.
The only way for this imputed income to go away, is getting married, or kicking her off my insurance (she has an inferior plan from work, or can get one on the NYS healthcare exchange)
I'm trying to figure out what the other impact would be to our taxes for 2018 if we were to elope asap for the purposes of savings ~$3,150 in taxes for 2018 associated with health insurance.
There are plenty of calculators online to calculate marriage tax penalty for 2017 and prior, but not one I found for 2018. Can someone who is good with this stuff help me out?
Significant info
$92,000 - My income
$43,000 - Her Income
Both contribute $18k/yr into 401k, I contribute $6,400 into HSA, we have no dependents, no mortgage, and will take standard deduction for 2018.
How much more/less would our tax liability be if we got married in 2018, vs filing single individually?
Thanks.