When Dr. Phil says marriage isn't a 50/50 proposition, he's not referring to spouses owning property in a community property state. Community property laws view marriage as a partnership in which both spouses equally share the income and assets they acquire after the wedding.
Nine states -- Wisconsin, Washington, Texas, New Mexico, Nevada, Louisiana, Idaho, California and Arizona -- have community property statutes that affect a married couple's federal income tax return. According to Racine, Wisconsin CPA Carla R. Dentartigh, community property couples have more to think about.
"'What's mine is mine and what's your is yours' doesn't always apply," she says. “From the date you were married, you've got to consider that half of what he makes is yours and half of what you make is his."