What are tax implications for newly married couples?

The tax implications for newly married couples are relevant because one of the factors to take into account before getting married is what will be the status of the taxes precisely after getting married. Some of the tax questions that need to be resolved are connected to the timing of the marriage such as the difference between marrying before December 31 or after January 1 of any given year. In many states tax benefits are available for married couples, as an example of this the federal tax rate of a couple filing a joint tax return will be lower than that of an unmarried individual.

Many provisions in the U.S. Tax law are written with the goal to provide married couples with greater benefits than those potentially available to other individuals. More information on this topic can be found in the link included next: wwwebtax.com/general/filing_status.htm Enjoy the reading!

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