MARRIAGE AND YOUR TAXES (AS REPORTED BY JOHN SCHNEIDER ON WWW.PERSONALCAPITAL.COM)

We don’t often think about marriage as a matter of personal finance, and for good reason. But still, there are certain financial questions we must ask ourselves when planning for a wedding. Chief among them is, how will this affect our taxes?

Married people who file their taxes jointly will often save money, meaning they will owe less in taxes than they would if they filed separately. These savings come when partners are in different tax brackets, and when married couples qualify for certain credits and deductions not available to single people. There is a true tax advantage to being married, as the government has an incentive to encourage marriage.

To learn more about how getting married can impact your taxes, read this article.

 

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