Tuesday, May 11, 2010

How does my tax status change when I get married?

This might sound dumb, but if I get married do I pay more or less taxes? Do I get more back? Do they take less out of my paycheck?How does my tax status change when I get married?
The standard deduction for someone who files there taxes as a single person is smaller than the deduction for a married couple filling jointly, but then again the income would be combined, therefor there might not be that much of a change.How does my tax status change when I get married?
Dear ,


It is not effected status of Married or unmarried. you will pay your tax same according to Income. It may excess if your income is including with your husband, if you want to include with your husband. Your Income tax exemtion will same as previous. If you are in a salary employee and your husband also then you can not get exemption of H.R.A and it will get by only one person as you or your husband.
If you have income and your spouse does not have income or has a very little income, then it is better to file as Married Filing Jointly. If both of you have almost equal income, then it won't make much difference. Also may credits and deductions are not available if you file Married Filing Separately. So normally you should file as Married Filing Jointly, unless there is a compelling reason to file otherwise.





This is from IRS publication 17: Your Federal Income Tax.


';Tip. If you and your spouse each have income, you may want to figure your tax both on a joint return and on separate returns (using the filing status of married filing separately). Choose the method that gives the two of you the lower combined tax.';
It mainly depends on income level. With being single your income is a certain amount, and your spouse's income is a certain amount. With getting married, you would file as married filing jointly and your income and your wife's income would be taxed together. Hard to say without knowing income as you both being single versus income with you being married.

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