Taxes and Marriage: Planning for New Circumstances


    The decision to get married has many consequences that result from it.  A part that needs to be considered is how the taxes of the couples will be affected moving forward.  This has always been an important factor.  The Supreme Court ruled that same-sex marriages are legal which means that they may have a tax "penalty" or "bonus" when they file their taxes just like other married couples.

    There is no tax law that gives financial punishments or rewards for choosing to get married.  However, the couple's newly combined income may create a result that needs to be carefully considered.  For example, if one of the spouses has a larger income than the other, they may not be taxed at a higher rate when filing a joint tax return.  This might put them in an situation where they can save money by filing together.  However, the opposite might be true if they have incomes that are about equal and they file jointly.  These are circumstances unique to each couple.  Taxpayers at this special time may need guidance to make wise choices for their family.  What do you think?

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