Getting married and taxes

If you just got married or you are planning a wedding, taxes are probably the last thing on your mind.  However, you may need to spend a little time considering how your personal taxes will be impacted now that you tied the knot.  For example, no matter when you were married during the year, you are considered married for the entire tax year.  You are not required to file a joint tax return; however, you cannot file a “single” return when you are married (and there may be certain tax advantages to both).  For your parents, they just lost a tax deduction too if they have been claiming you on their taxes until you were married.

For more about taxes when you get married read, “10 Things You Need To Know About Getting Married & Taxes.”