Marriage and Taxes?

What happens to your taxes when you get married?

QUESTION: Daniel is getting married in several months and wants to know what marriage will do to their taxes.

ANSWER: The Marriage Penalty Tax was a fluke in the tax tables and has been corrected.  There should be very little difference in the taxes you pay once you get married.

The only problem is that the W-4 forms through your employer don’t match up with the IRS’s tax tables.  (This is the IRS’s fault, by the way.)  For example, you can claim the correct number of exemptions and still end up with a huge tax return.   

The only thing you can do is draw up a sample return to find out what your taxes will be when you get married.

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