Summer Weddings Mean Tax Changes





As our family’s summer progresses this year, it has one clear thing that it is chalked full of (besides mosquitos) weddings!  A beautiful and momentous occasion for all involved especially the bride and groom.  One thing I am sure that doesn’t make the wedding planning checklist is taxes.  

You should be aware of the tax issues that come along with marriage. Here are some basic tips that can help keep those issues to a minimum per the Internal Revenue Service:

Name change. The names and Social Security numbers on your tax return must match your Social Security Administration records. If you change your name, report it to the SSA. To do that, file Form SS-5, Application for a Social Security Card. You can get the form on SSA.gov, by calling 800-772-1213 or from your local SSA office.

Change in filing status.  If you’re married as of Dec. 31, that’s your marital status for the whole year for tax purposes. You and your spouse can choose to file your federal income tax return either jointly or separately each year. You may want to figure the tax both ways to find out which status results in the lowest tax.

Note for same-sex married couples: If you are legally married in a state or country that recognizes same-sex marriage, you generally must file as married on your federal tax return. This is true even if you and your spouse later live in a state or country that does not recognize same-sex marriage. 

For more information, contact our office or visit IRS.gov.

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