If you got married in the past year or are planning on getting married this year, let Tax Break help you plan for your combined financial tax situation. Schedule an appointment with one of our advisors today to discuss the 3 things every married couple must do to avoid paying hundreds if not thousands of dollars in tax!
#3. Every married couple needs to choose the most advantageous income tax filing status to use. Rules and options vary greatly among filing jointly or filing separately compared to head of household or single filing status.
If you were married before 2013 and were required by Federal or State law to file as a Single taxpayer, you are now required to file using a married filing status. Tax Break specializes in these situations and will review your prior year(s) returns to see if you are entitled to refunds due to changes in either Federal or State legislation. Click here to see our Case Study.
#2. Once you select your filing status, claim all allowed deductions and credits to reduce taxable income and income tax. Tax Break advisors work with each couple to identify deductions and credits available to result in the lowest legal tax liability.
#1. Once you know what your combined married income is and what your tax liability is, Tax Break helps you adjust income tax withholding or estimated taxes to put the most money possible in your paychecks while ensuring you won’t owe the Government at the end of the year when you file your tax return. If you want a refund, we can help you adjust your income and withholding to get that too!
Schedule an appointment here.