facebook twitter instagram linkedin google youtube vimeo tumblr yelp rss email podcast phone blog search brokercheck brokercheck Play Pause
%POST_TITLE% Thumbnail

A New Marriage: A Tax Penalty or a Bonus?

Column distributed by Hearst Connecticut Media Group.

Links to resources referenced:

  • Calculator.net: Marriage Tax Calculator
    • https://www.calculator.net/marriage-calculator.html
      • Related column excerpt:
        • “It all depends on the situation. There are tools available to help you get a sense of whether your marriage will lead to a tax penalty –- or a tax bonus. For example, take a look at the Marriage Tax Calculator at Calculator.net. There you will be able to do a quick estimate of taxes by running two single-filer calculations to compare to a joint-filer situation. The calculator is easy to use and intuitive, and it will help you decide on whether you need to change your W-4 tax withholding at work. You’ll want to withhold more if you wind up with a marriage penalty and less if you have a marriage bonus.”
  • IRS: Questions and Answers for the Additional Medicare Tax
  • IRS W-4: Employee’s Withholding Certificate
    • https://www.irs.gov/pub/irs-pdf/fw4.pdf
      • Related column excerpt:
        • “Also check for additional Medicare taxes (for more details, see the IRS webpage ‘Questions and answers for the Additional Medicare Tax’). The Tax Withholding Estimator on IRS.gov can be used to check withholding and provide tips for completing a new Form W-4, Employee’s Withholding Certificate. If you do decide to change your withholding, you can provide your employer an updated Form W-4.”

 

  • Taxpayer Advocate Service: The Tax Ramifications of Tying the Knot
    • https://www.taxpayeradvocate.irs.gov/news/tax-tips/the-tax-ramifications-of-tying-the-knot/2025/07/
      • Related column excerpt:
        • “‘Most married couples file jointly because it is simpler and often more financially beneficial. Filing jointly also makes you eligible for many tax deductions and tax credits,’ quoting the article ‘The Tax Ramifications of Tying the Knot’ on the Taxpayer Advocate Service (TAS) website. TAS is an independent organization that serves as the taxpayer’s voice at the IRS.”
  • TaxAct: Filing Taxes for Married Couples: Benefits and Tips
    • https://blog.taxact.com/filing-taxes-married-couples-benefits/
      • Related column excerpt:
        • “There may be other reasons to consider filing separately, as noted by U.S. tax software company TaxAct:
        • “One spouse has high out-of-pocket medical expenses and would benefit from itemized deductions, whereas the other spouse would benefit from the standard deduction.”
        • “One spouse has an income-based student-loan repayment plan.”
        • “There is a concern about a financial or legal separation.”
  • IRS Form 8822: Change of Address
    • https://www.irs.gov/pub/irs-pdf/f8822.pdf
      • Related column excerpt:
        • “If your address has changed, update your address with the post office, employers and the IRS. Use Form 8822, Change of Address, to change your address with the IRS.”
  • IRS: Tax checklist for newlyweds
    • https://www.irs.gov/newsroom/tax-checklist-for-newlyweds
      • Related column excerpt:
        • “There is more to talk about, of course, since this is not a comprehensive list of changes. Be sure to see the IRS webpage ‘Tax checklist for newlyweds.’ Also check out ‘Personal Finance Tips for Newlyweds,’ which lists a number of possible ‘mistakes,’ from ‘avoiding the money talk’ to ‘not having a plan for your accounts.’ This is a resource of the ABA Foundation, an arm of the American Bankers Association.”
  • American Bankers Association: Personal Finance Tips for Newlyweds