It’s a good bet that taxes are the furthest thing from the minds of a newlywed couple. (Unless, that is, one of them is a CPA!) Regardless, sometime after the wedding and honeymoon, it’s important to sit down to review a few tax-related items. Indeed, a change in marital status can precipitate tax implications. For example, married people can choose to file their federal income taxes jointly or separately each year. For most couples, filing jointly makes the most sense, but each couple should review their own situation. If a couple is married as of Dec. 31, tax law says they’re married for the whole year. Contact us with any questions. Here’s more from the IRS: https://bit.ly/3rt5D00
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