They say surprises are a great way to keep that flame going, but when it comes to finances, surprises are something you want to avoid with your partner, so keep that line of communication open. Have some debts burning holes in your pocket? Make sure your partner knows about them. “You can still file a joint return to get the best tax outcome, but you’ll need to file a special form to make sure the spouse without the debt doesn’t lose his/her share of the refund. It’s called an injured spouse form,” advises Nathan Rigney, Lead Tax Research Analyst at the Tax Institute at H&R Block.
Filing Your Taxes as a Newlywed
Did you tie the knot last year? Congratulations! Together as a married couple, you had the wedding, the gifts, the cake, the honeymoon…and now you have just less than one week left to file your taxes if you haven’t done so yet! Did you know that once you’re married, the way you normally do your taxes changes a little? Fret not – we’re here to break it all down for you because let’s face it, you don’t need any additional headaches when doing your taxes!