Summer is a popular season for weddings, and a wedding means changes in your tax situation. So after the honeymoon, you should take some time to think about what your recent wedding means for your taxes.
Even if you are planning to wed on New Year’s Eve, if you are married on December 31, the IRS considers you married for the whole year! That limits your filing choices to either married filing jointly or married filing separately. Married couples who file separately lose out on many tax breaks. Most of our clients have a lower tax bill if they file jointly.
Changing your Name?
If you plan to change your name after marriage, make sure Social Security knows about it! Avoid problems when you file your tax return with your new name. Complete and file Form SS-5 – Application for a Social Security Card with your new name. Get the form from your local Social Security Office or go to www.SSA.gov to download it online.