Getting married isn't just a huge commitment -- it's a major
financial event in your life. To avoid making costly mistakes,
you have to know the tax provisions that affect newlyweds.
In the following video, Dan Caplinger, The Motley Fool's
director of investment planning, runs through three of the key
must-know facts newlyweds should know. Dan points out that your
marital status as of Dec. 31 is what the IRS looks at for filing
purposes, so if even if you got married on the last day of the
year, you're treated as married for the whole year. Dan then
notes that different brackets apply to married taxpayers compared
to singles, with some couples enjoying a marriage bonus while
others suffer a marriage penalty. To make sure you have the right
amount withheld from your paycheck as a married couple, Dan
advises going to your HR department to complete a new Form W-4 to
adjust your tax withholding.
Is Uncle Sam about to claim 40% of your hard-earned
Thanks to a 2013 law called the American Taxpayer Relief Act,
or ATRA, he can, and will, if you aren't properly prepared.
Fortunately, The Motley Fool recently uncovered an arsenal
of little-known loopholes to protect yourself from ATRA and
help keep the taxman at bay when he inevitably comes calling.
We reveal them all in a brand-new special report. Simply click
the following link below for instant, 100% free access.
Protect my hard-earned wealth from Uncle
Protect my hard-earned wealth from Uncle Sam
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