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Marriage and Taxes: What You Need to Know
Kiplinger's Personal Finance
|July 2021
Most couples will owe less in federal taxes by filing jointly, but sometimes it pays to go it alone.
WEDDING BELLS ARE RINGING AGAIN in 2021 as engaged couples rush to tie the knot in front of family and friends without the fear of causing a COVID-19 super-spreader event. If you find yourself newlywed in 2021, you’ll need to get up to speed on the rules for filing your taxes as a married couple.
The U.S. has a progressive tax system, which means that as you earn more, you pay a larger percentage of your income in taxes. But the amount you’ll owe could also be affected by your filing status. The four main categories are single, married filing jointly, married filing separately and head of household.
This story is from the July 2021 edition of Kiplinger's Personal Finance.
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