Yes getting married has its benefits even when it comes to taxes. Tax season is here and many
people are preparing to file their taxes while planning for their wedding. Just in case you were
wondering if there are benefits to getting married when it comes to your taxes, we are here to
dish the 411:
1) Prior to getting married you were more than likely filing single. Once you get married, there are several options – you could file married filing separate or married filing joint. You and your future spouse will have to decide what will work best for you.
2) Be conscious of the Name change. Names listed in your tax return should match all forms of identification, including your social security card, drives license and passports.
3) Change your Withholdings. Once you say "I Do" and the income level increases, so does your income tax bracket. Use the IRS Withholding Calculator to determine the correct amount of withholding needed for your new filing status.
4) Don't forget to file a change of address. You don't want that to be the delay in why your taxes are not being processed.
5) Will you itemize once you are married or claim the standard deduction?
Those are only the beginning to get you started. Prior to filing your return, you and your future spouse should have talked it over and have a game plan to activate if you receive a return. The key is having a mutual decision about what will happen with the refund.
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