Top 3 Tax Tips For Soon The Be Bride And Groom

By Author: DANNY BREEDLOVE
Total Articles: 11
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Now you are about to get married to become one. This means most of your transactions and decisions will affect both of you. Tax is one of the issues that challenge many newly weds. Remember tax rules for single people are almost totally different from the married people. Therefore one of the best methods that you can use to make informed decisions that pertain your taxes as a couple is to learn more from the experts.

Here some 3 Tax Tips for soon the be Bride and Groom:

File Tax Return Jointly

This is highly recommended to couples because of the advantages it comes with. Some decide not to file jointly because they don't want to be responsible for the tax liability of their partners. But one of the benefits of filing jointly is that you will get an easy time filing. When you file jointly you will only need to only prepare one return; and you will not have to decide who takes the each deduction. In addition, you will also be required to pay less. The IRS has very favourable rules for those who file tax return jointly.

Change Your Name With The SSA

One of the problems that face many newly wedded ...
... couples is delays for their tax returns. The best things that you can do is change your name with the Social Security Administration because this enables the IRS to process your tax return on time. This is something that you can do right from your home; you can writer them on their website sss.gov or call their offices on 1-800-772-1213. Unless you want to keep tax returns separately, then this should be your first thing after you get married.

Withheld Allowance On Form W-4

After your honeymoon check your income taxes withheld by your employer on the form W-4. lt important to avoid having too much or too less withheld. This, you can change by filing for a new form W-4 with your employer. You can visit an expert to get more advice on the amount you should allow to be withheld.

While trying to understand all the tax rules can sometimes be a bit challenging to newly married couples, it is advisable to soon the be Bride and Groom to look for tax experts to guide them through. Whether it is before your wedding or after wedding, you need to put the tax matter in your discussions so as to avoid the last minute rush. There are many tax experts both online and offline that can help you get the answers to all your tax questions.