June 9, 2016
Tax Tip: Rules for Home Office Deductions

Summer Wedding? Remember These Tax Tips

“Summer Wedding?  Remember These Tax Tips”, If you or someone you love is getting married this summer, keep these important tax issues in mind. Taking care of them now can help reduce your stress at tax time. Change names: IRS rules require that the names and Social Security numbers on your tax return match your Social Security Administration records. To formally change your name, file Form SS-5, “Application for a Social Security Card”, with the Social Security Administration. Change tax withholding: A marital status change means you must give your employer a new Form W-4, “Employee’s Withholding Allowance Certificate.” You should also meet with a tax professional to determine how your combined income affects your tax liabilities. Change filing status: If you’re married on or before December 31, you are married for the whole year for tax purposes. You and your spouse can choose to file your federal income tax return either jointly or separately each year. You may want to ask a tax professional to run the numbers to see which status results in the lowest tax liability. For more information about filing taxes as a newlywed, consult a tax professional in your area. Tip courtesy of IRS.gov[18] 18 http://www.irs.gov/uac/Newsroom/Summer-Weddings-Mean-Tax-Changes