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Newlyweds and Taxes: 3 Things You Must Know

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 assets?
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 Sam

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  • Report this Comment On February 28, 2014, at 10:49 AM, tchams wrote:

    What if you get married (say in 2014), but can still be claimed as a dependent by somebody else since one of the people getting married was previously in college and lived at home for more than half the year?

    This would force the newly married couple to file separately to allow the parent to claim the dependent on their taxes correct?

    Fool On

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Dan Caplinger

Dan Caplinger has been a contract writer for the Motley Fool since 2006. As the Fool's Director of Investment Planning, Dan oversees much of the personal-finance and investment-planning content published daily on With a background as an estate-planning attorney and independent financial consultant, Dan's articles are based on more than 20 years of experience from all angles of the financial world.

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