LIFE MILESTONE: TAX TIPS FOR MARRIAGE

  1. Tax Tips for Marriage: A wedding is an exciting milestone, but it’s also a big financial turning point for couples. Whether it’s a first marriage or two families are blending, these unions have major tax consequences.
    Getting married could influence which tax bracket a couple falls into, so the first step is determining the most advantageous filing status. A couple must determine if it’s in their best interest to file jointly or separately. Then, they should review how this choice affects each spouse’s tax burdens and adjust tax withholdings accordingly. (AICPA)