Questions tagged [marriage]

For questions related to marital issues, e.g. filing jointly, sharing finances, etc. For tax questions, please add a relevant country or regional tag as well.

Filter by
Sorted by
Tagged with
0
votes
1answer
50 views

W4 allowances when spouse is working as contractor on 1099?

I will be starting a new job in July and I will need to fill out a W4. My spouse earns higher than me and he is an independent contractor and is on 1099. I was unsure of how many allowances to claim?...
27
votes
4answers
11k views

Going to get married soon, should I do it on Dec 31 or Jan 1?

I know that there is a tax advantage to having a child on December 31st at 11:59 as opposed to January 1st at 12:01. Does the same hold true for marriage? If it matters I make ~$130,000/yr and have a ...
1
vote
1answer
275 views

How can a stay-at-home parent save for retirement?

With my wife transitioning to a stay-at-home mom role, how can we save so she can retire? She won’t be able to contribute to her 401k and I don’t think we qualify for a Roth IRA based on my income. ...
1
vote
0answers
34 views

Income tax filing for married couple with separate addresses in Canada

I am a resident in Ontario and have just got married. Can I file joint taxes with my wife even though we live on separate properties?
3
votes
0answers
66 views

How can you leverage the benefits of an older spouse's retirement account?

Can a marriage with a large age gap and a young high-earning spouse benefit from, for example, a Roth IRA? Let's say Jack and Jill are married. Jill is 50 and makes $25,000/year while Jack is 25 and ...
4
votes
1answer
133 views

State income tax : full resident, spouse part-year resident: joint return possible?

In 2018 I was a resident of New Jersey the whole year, but my spouse was a part-year resident: he permanently moved to Germany on August 1st and established his domicile there. After that date, he ...
1
vote
1answer
152 views

In what ways does getting married to someone with poor credit affect someone with good credit?

Two middle class individuals, Jim and Jane, are dating. Jim has a 715-730 credit score, as reported by Credit Karma, and has no problems (late payments, bankruptcies, etc) for the last 7-10 years. ...
7
votes
1answer
250 views

How does “marriage allowance” work in UK self assessment?

My wife and I have just been doing our 2017-2018 UK tax self-assessments online (yes I know... leaving it to the last minute... they are all done now though). As during that tax year my income was ...
9
votes
2answers
690 views

What are the financial implications of merging my wife's bank and investment accounts with mine?

Background I've been married to my wife for eight years & live in Washington State. For that entire time, we've had separate bank and investment accounts, mostly due to inertia. I make most of ...
4
votes
1answer
840 views

Benefits/disadvantages of filing as married?

I was hoping to get some help as to what I should file on my taxes (single, married or head of household). I recently got married in August. I honestly and not sure the benefits of filing single/...
2
votes
1answer
159 views

Capital Gains Tax allowance sharing for married couples

A husband owns a flat (mortgaged). He is selling it after marrying earlier in the year. Some capital gains tax will be payable as he no longer lives there - the couple moved into a larger place ...
6
votes
1answer
325 views

Getting married but avoiding joint income claims

My girlfriend and I are planning on getting married. However, she has racked up quite a bit of student loans(60K+). Currently, she has been on a repayment program (PAYE) with a 20 year loan ...
1
vote
1answer
11k views

2018 W4 - Married or Married, but withhold at higher single rate?

We were married earlier in the year and currently updating our 2018 W4's to reflect our new married status. The 2018 W4 is a bit confusing as based on how we have it currently setup, it looks like we ...
2
votes
1answer
59 views

Healthcare requirements for J-1 married to US Citizen

I am a US Citizen and married a J-1 visa holder at the end of December 2017. Facts: I have had healthcare coverage the entire time in 2017 and currently in 2018. My wife is still a J-1 with a ...
5
votes
2answers
275 views

Pending divorce for all of 2017 while self employed. Will I force my ex to itemize?

We separated in Sep 2016, I served her divorce papers in Feb 2017, and the divorce is still not finalized. So for all of 2017 we did not live together, and we only communicated about divorce related ...
6
votes
5answers
561 views

Are there hidden financial costs to a marriage of convenience?

I have a friend considering a marriage of convenience. She is looking to marry another women so she can gain a sizable discount on childcare from the location the 'spouse' is employed at, and the '...
3
votes
2answers
1k views

Can I keep my HSA if I get on husband's insurance?

My husband and I recently got married and are wondering what to do about health insurance. I am currently with a company that offers a plan with the option to put funds in an HSA or FSA. My husband'...
2
votes
3answers
366 views

When should both spouses get benefits from their jobs?

My wife and I get medical, dental, and vision benefits through her job. Generally we've been pretty satisfied with them. Now for the first time, my job is offering health, dental, and vision as well. ...
2
votes
1answer
116 views

Does an inter-spouse transfer of shares reset the “book value”? (in the UK)

If one half of a married couple transfers some shares to the other half, does that somehow "reset" (for capital gains purposes) the "book cost" of those shares, or not? This might be best illustrated ...
2
votes
2answers
303 views

Pitfalls of sharing finances?

Two individuals are about to be married. They both work at great jobs, great income, both are also very level-headed and responsible – which is why they waited until they both felt like they were ...
1
vote
1answer
2k views

How to calculate Two-Earners Worksheet mid-year for W4

I've searched the internet for hours unable to find an answer to this question. My husband and I are adjusting our W4s now, several months into the year, to reflect that we got married. Because of ...
2
votes
2answers
1k views

What filing status should two married non-resident aliens use?

I have F1 visa and my wife has F2, both non-resident. My university had a program to help students do their taxes. So they helped me (using their software) to fill and print forms, one of which is ...
2
votes
2answers
710 views

Bought a house last year should I hire a tax consultant?

I generally do my tax returns using Turbo-tax. It is generally pretty straight forward, single salaried employee filing returns. In the last tax year, I got married and bought a house. It makes me ...
3
votes
1answer
502 views

Income allocation for taxes when married-filling separate in community property state

I am trying to confirm how income allocation works in a community property state. Are you supposed to combine your incomes and then split it evenly with your spouse? For example, Person A and ...
4
votes
1answer
171 views

Is there any way to alleviate the impact of divorce on tax returns?

My friend got divorced towards the end of 2016, and it seems she owes a lot more than she was expecting because her filing status is now Single. She went through all the options she could find in ...
1
vote
1answer
1k views

Huge difference when comparing filing married separately vs. jointly?

If I file married separately I would owe federal taxes around $6,000 and when filing married jointly federal taxes owed would be $400, how is this possible?
2
votes
0answers
90 views

Should I have a Joint account with spouse? [duplicate]

We have been married for almost 10 years, and have a stable, happy relationship. Both of us were working and living independently before getting married, and we continued the arrangement after ...
3
votes
2answers
405 views

Can I claim my wife as a dependent for time before marriage?

I'm a bit lost when it comes to taxes, and I've heard from a few sources that one cannot list their spouse as a dependent. However, my wife and I got married in October last year, and she has lived ...
6
votes
2answers
424 views

How can we get a hold of our finances again, with much less time to spend on accounting and budgeting, due to the arrival of our child?

When my wife and I got married, we joined our finances and started tracking expenses and budgeting with a tool called Mvelopes.com. This is a personal finance web app that puts the emphasis on ...
16
votes
2answers
4k views

How will getting married before the end of the year impact this year's taxes?

My fiancée and I plan on getting married in December of 2018. She wants to go to the courthouse this month and get legally married immediately, so we can work on an adoption process with her child. ...
65
votes
17answers
19k views

How to share income after marriage and kids?

My girlfriend and I are thinking about marriage and having children and I have spent the last days trying to figure out concepts how to handle finances from that point forward. I believe that this is ...
1
vote
1answer
117 views

Do I need to file tax return with my spouse, who is not a permanent resident in the US yet?

I'm a permanent resident and petitioning for my wife to come to the US next year (She might be here in November 2017). I went to my country and got married with her in May 2016. Besides changing my ...
6
votes
1answer
370 views

If one spouse dies is the other responsible for federal student debt taken during the marriage?

In California, in the United States, if one spouse takes out federal student loans during the marriage but the other spouse does not cosign them is there a responsible party in the event of death? I ...
1
vote
0answers
50 views

Municipal bonds for married couple in different states

I am living in Michigan (state income tax) and my spouse is living in Washington (no state income tax). We are interested in investing in municipal bonds. From my understanding, in order to take ...
2
votes
1answer
127 views

Computing federal withholding for wife's W4 for new job, and if I need to adjust mine?

My wife is starting a new job and I am trying to figure out how to file her W4 and if I need to adjust mine. For some reason I can't seem to get correct/accurate results from the IRS Withholding ...
3
votes
2answers
344 views

File Taxes: US Expat, now married to foreign national

I live in Sweden and I got married last year to my Swedish wife. We have no children or dependencies. Does she have to file any USA tax forms? Can I just file Married Filing Separately and she does ...
2
votes
1answer
443 views

How big is the tax penalty for a dual income couple? [duplicate]

Multiple articles online alludes to this tax penalty, claiming that dual income couple "can, often, may" suffer from it without giving any concrete sense of the magnitude. Could we do an ...
29
votes
12answers
8k views

How can I legally and efficiently help my girlfriend build equity by helping with a mortgage?

I am in a committed relationship -- but for various reasons don't want to get married. I just bought my first apartment for $200,000 on a 30 year mortgage. My girlfriend will be living with me but her ...
2
votes
2answers
193 views

Is it adventageous to expedite my wedding before the new year for tax savings?

My fiancee and I are engaged to get married next year (July). I make significantly more income does she this year (she was a student this year), but she will be getting a new job that starts in ...
3
votes
2answers
473 views

Marriage Tax Benefits

If two individuals were considering marriage after college, what would the actual tax benefits be? Both are male. Both have full time jobs. In the United States.
2
votes
2answers
295 views

Can I file married filing separately if I already have a Roth IRA but no conributions?

I have a Roth IRA that was opened when I was single in 2014. I made contributions for the tax year 2014. Now in 2015 I still have that account however I did not make any contributions to it for the ...
6
votes
2answers
205 views

US Filing Status when married to non-resident foreigner in the US

I am US citizen living in the US getting married to a non US citizen who is studying here on a non-immigrant J visa. While she is the in the US, she has and will have no income. In a year or two, we ...
2
votes
0answers
410 views

Downsides to refinancing with only one spouse?

My wife and I are talking with a lender about refinancing our home loan. Currently, our loan is in both of our names, as is the title. (This is a Lien Theory state, if relevant.) The house was ...
5
votes
1answer
2k views

Income tax withholding for single person vs. married person?

Page No: 45 of this IRS publication http://www.irs.gov/pub/irs-pdf/p15.pdf gives the Percentage Method Tables for Income Tax Withholding. I am married, but my spouse works as well. In my case, will ...
5
votes
3answers
210 views

Do individual retirement account balances matter for a married couple?

Do individual retirement balances matter for a live-happily-ever-after married couple? Say both spouses qualify for a workplace retirement plan. Spouse A enjoys a company match for x% and has many ...
0
votes
1answer
533 views

US Taxes: Married Filing Separately vs Single Filing for NonResident Aliens

My spouse and I are both graduate students in F-1 status for the last year 2014. I thought we could file a joint federal tax return, but now, as per this link on IRS website, it seems non-resident ...
3
votes
2answers
293 views

Can I claim my daughter as a dependent on my 2014 tax return even though she got married in August?

Can I claim my daughter as a dependent on my 2014 tax return even though she got married in August? She did not live at home but was a full-time student for at least 5 months out of the year, and we ...
8
votes
1answer
741 views

My spouse and I can make a budget, but how can I get her to consistently follow it? [closed]

This question is similar to this question: I can make a budget, but how can I get myself to consistently follow my budget? except from the point of view of a married couple. In our family I earn the ...
3
votes
1answer
283 views

Filing jointly and wife as father-in-law dependent

I'm an independent contractor attempting to figure my estimated tax payments for 2014, and I have the following situation: I'm getting married in June and plan to file jointly for 2014. Will my new ...
2
votes
3answers
173 views

Which businesses provide financial planning services for newly married couples?

My fiance and I want to start preparing for our economic future; specifically buying a home, planning for children, and our eventual retirement. We both have work 401(k)'s but would like more help ...