Congratulations! Here's what you need to know regarding taxes and your new marital status.
There are so many things to think about when you get married that your taxes are at the bottom of the list.
Here are some things to think about when tax time comes.
1. - Does it matter when I get married?
If you are married as of December 31st, then you are married for that tax year. It doesn't matter if you were married January 1st or December 30th.
2.- Choosing a new filing status
You can either choose "married filing jointly" or "married filing separately". It's important to choose the status that will be best for you. Most tax benefits are for "married filing jointly" but choosing a status depends on your personal circumstances.
Find out here what is the best status for you.
3. - If you change your name
If you change your name you must let the Social Security Administration know. If your name on the return is different than your legal name they won't be able to process it.
Form 8822 is a good way to let the Administration know of your name change.
4. - If you move address
If you move, make sure to let the post office know about your new address.
Form 8822 is a good way to let the Administration know of your address change.
5.- Withholding amount
When you get married your income might change. It would be a good idea to double check what amount you should be withholding on your paycheck.
Check that amount here.
To update that amount with your employer just fill out a new W-4 form and hand it in.
Don't let taxes be a confusing hassle
We hope this list will help you out when tax season rolls around. If you have any questions don't hesitate to reach out to us. We are here for you!