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10 Tax Tips for Married Couples

        Money | Taxes

Newlyweds: Enjoying the bliss of celebrating their love, and an assortment of changes to their finances. © pojoslaw/iStockphoto
Newlyweds: Enjoying the bliss of celebrating their love, and an assortment of changes to their finances. © pojoslaw/iStockphoto

If your status went from single to married, it's time to take a look at the way that brand-new relationship may have had an impact on your taxes. Your marital status as of Dec. 31 determines whether you file as married or single. If you tied the knot on Jan. 1, you've got one more year of single status -- at least in the eyes of the IRS.

One huge change to marital status is the recognition by the federal government of same-sex marriage. Congratulations! Those of you in a same-sex marriage may now participate in all of the married-filing-jointly -- or separately -- hoopla that heterosexual couples have enjoyed for decades.

As you read through our tax tips for married couples, think about your own financial situation. Not all of the tips will apply in every case. And for your first couple of years of married life, you may want to figure your taxes both ways -- jointly and separately -- to see which way is best for you.


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