Taxes may not be high on your summer wedding plan checklist.
But 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:
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.
Change tax withholding.
A change in your marital status means you must give your employer a new Form W-4, Employee's Withholding Allowance Certificate. If you and your spouse both work, your combined incomes may move you into a higher tax bracket. Please contact us to complete a new Form W-4.
Address change.
Let the IRS know if your address changes. To do that, file Form 8822, Change of Address, with the IRS. You should also notify the U.S. Postal Service. You can ask them online at USPS.com to forward your mail. You may also report the change at your local post 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 contact us 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. See irs.gov for more information on this topic.
For more on this topic visit IRS.gov
If you have additional questions, pleas email contact@ssbcpa.com
or call 508.871.7178.

Source: IRS Summertime Tax Tip 2014-02, July, 2014

Partners Smith, Sullivan and Brown

Questions?
Call us at 508.871.7178
or email: contact@ssbcpa.com 
or go to: www.ssbcpa.com   
 

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