If you got married during 2012, chances are you’ve been planning your future and settling down in your new environment. Therefore, most of you are probably not worrying about planning for your tax liability. In order to help you avoid as much stress as possible during this tax season, here are some tips from our March newsletter for newly married couples:
- Notify the Social Security Administration: Report any name change to the Social Security Administration so that your name and social security number will match up correctly when filing your tax return. Tax returns may be delayed if names do not match with social security numbers.
- Notify the IRS: If you have a new address, make sure to fill out a change of address form!
- Notify the Post Office: Make sure to notify the post office of your recent move so that notifications from the IRS or other government organization can find your mailbox.
- Review Your Withholding and Estimated Tax Payments: If you and your spouse are both working, the newly combined incomes may bump you into a higher tax bracket and you may have an unexpected tax bill when you file. There are many steps married couples can take to reduce their tax liability, so make sure you contact a tax professional (like us!) to plan for your for your taxes!
For more information, please visit our March newsletter where you will find more on tips for newly married couples and more proactive tax and accounting advice. If you need to your 2012 tax prepared or are in need of comprehensive tax planning, please give us a call at 520-572-1248.