With marriage, comes new challenges that a newly married couple must face. Once the honeymoon is over it’s time to get your tax situation in order. Remember that your marital status is determined by your status on December 31. After consulting with fax professionals, Marisa Torrieri explains four major ways your taxes change once you go from single to married:
- Your filing status will change
- You’ll probably change tax brackets
- Your standard deduction will go up
- You might owe money on those months spent single
(learnvest.com)
