Have you recently get married
Getting married changes everything - status your tax return, how much tax you pay, and more.
Use these tax tips to start on the right foot in your married life.
Use good deposit
as a married person living with your spouse, you have only two choices of tax filing status. You can file jointly with your spouse, or you can file as Married Filing separately.
You are almost always better to file jointly. You'll probably pay less tax, and it is easier, too.
you only have to prepare a return, and you should not decide who takes each deduction.
a reason you may not want to file jointly is if you do not want to be responsible for the tax debt of your spouse, or you and your spouse prefer to keep separate finances .
In some cases, you can pay less tax by filing separately because of the tax laws of the state.
Avoid having too much or too little withheld
one of the first things you should do after you get married is to file a new W-4 form with your employer. You might need more tax withheld, or less than you did before you get married. It is unlikely to remain the same.
This is not a good idea to guess when you complete your W-4 form. Too many factors come into play that can affect your tax liability.
If you have too much income tax withheld, you can not have your own money available when you need them.
If you have too little withheld, you will have an unpleasant surprise when you file your tax return next year.
It is well worth your time to use W-4 withholding by TaxAct to ensure that you have the right amount of tax withheld from your pay. You can print the form TaxACT and give it to your payroll department.
Do not file with the IRS.
Change your name with Social Security Administration
If you change your name when you get married, it is very important that you update with the Social Security Administration before filing your tax return
otherwise, the IRS may delay the processing of your return -. and any refund you expect
You can update your name with the administration of social security in one of three ways :. your local Social Security office, by phone at 1-800-772-1213, or on the Social Security website at ssa .gov.
do I have to pay a "marriage penalty" now that I'm married?
There is no line for a marriage penalty on your tax return. This is not the less real trouble. The marriage penalty is simply a way of saying that you can sometimes pay more tax as a married couple that the two of you would have paid as singles.
For example, some tax breaks and other provisions gradually from the higher levels of income. When levels for married couples are less than double the levels for single people, it is, indeed, a penalty for being married.
Filing separately does not help to avoid the marriage penalty.
In fact, it can make it worse. Many tax breaks are reduced or eliminated if you file as married filing separately.
On the other hand, if one of you makes a lot more money than the other, your tax on a joint declaration may be less than the total you pay that the only people
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