Financial/Tax/Credit implications of Marriage? Actions to take beforehand?
We’re probably having a quick before-end-of-financial-year Wedding in California. What are some marriage tax / credit / legal / other benefits? Disadvantages? Actions to take before marriage to maximize our stability and security? My sweetie and I had planned on getting hitched in Mid-09 with a proper ceremony and quite a few guests. However, due to financial pressures, it’s not likely we’ll be ready to have a big wedding any time soon. It probably benefits us to get married quickly with a civil service, due to tax savings for joint filing and the ability for her to share my employment benefits. We’ll likely get hitched in CA before the year’s out. This is a heteronormative marriage BTW.
I’m keen on knowing the other legal & financial implications of a) getting married and b) getting married quickly. What are other benefits/costs? Are there any actions (financial, legal) that sensible people who have time before their marriage perform that we might have missed out on?
We’re going to an accountant to have our tax situation analyzed. Things I’ve found from the internet: CA Tax. Under the California state tax system, there is no marriage penalty in the tax bracket structure, so getting married usually won’t hurt and can help. Federal Tax: Your status on the last day of the year determines your filing status for the entire year. If you’re married, you and your spouse can choose to file a joint return or file separate returns. Unless you are required to file separately, you should figure your tax both ways (on a joint return and on separate returns) to determine which filing status is best for you….
I saw this q as well.
Original text: Financial/Tax/Credit implications of Marriage? Actions to take beforehand?
Aussie Credit Cards - Compare offers at Credit Card ApplicationA Bamboo Steamer is available in different sizes and is of circular shape.
Have you ever heard of an InfraWave oven?
The Benefits of Using Wall Mount Rack Unveiled!
Similar Posts: