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14
Apr
by Corina

Tax Tips for Newlyweds

Here we go again, it’s tax time! For all you Newlyweds that were married in 2013 (even on December 31st), take note of these important tips you can take advantage of when filing jointly (source irs.gov).

Make sure all the information is current and correct. If you’ve changed your name or address, you need to make sure your W-2s are accurate as well as correct with the Social Security Administration and the IRS.

Know the benefits to filing jointly. It is possible that you can earn more money at a lower tax rate when filing as a married couple. BONUS!

Don’t settle for standard deductions anymore. Itemized deductions are now your friend. If you didn’t qualify for them previously, that may have changed. Don’t forget to gather your tax forms and receipts for things like home mortgage interest, property taxes, car registration, reimbursed employee expenses, and charitable contributions, which may give you more tax deductions and a bigger tax refund.

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