What You Need to Know Before Saying “I Do” (or “I Don’t”)

Marriage is one of life’s most meaningful milestones. It changes your daily routine, your long-term goals and yes, your taxes too.

Whether you’re recently married, planning a wedding, or just thinking about the future, it’s important to understand how tying the knot can impact your financial situation. In some cases, getting married can simplify your taxes and save you money. In others, it might lead to surprises that leave you owing more than you expected.

Let’s walk through how marriage affects your tax filing options, what benefits or drawbacks to expect, and how to make the smartest choices based on your unique situation.

Filing Options for Married Couples

If you’re legally married by December 31 of the tax year, the IRS considers you married for the entire year. That means you have two options when you file:

Married Filing Jointly – You and your spouse combine all income, deductions, and credits into a single tax return. This is usually the simplest and most beneficial choice.
Married Filing Separately – You each file your own return and report income and deductions separately.

Filing jointly is the most common choice because it often results in a lower overall tax bill and access to more tax credits. But there are situations where filing separately makes sense especially if you have concerns about financial transparency, liability, or unique income situations.

The Marriage Penalty: When Two Incomes Mean Higher Taxes

Let’s talk about a reality that surprises many newlyweds, the marriage penalty. This happens when combining incomes pushes a couple into a higher tax bracket than they would have been in as individuals.

For example:

A single filer hits the top 37 percent tax bracket at $609,351 in income.
But a married couple filing jointly reaches that same bracket at $731,200 combined income.

So if both spouses earn high incomes, they may find themselves paying more in taxes as a married couple than they would have as single individuals.

This is one of those areas where marriage doesn’t always equal savings, and understanding your combined income is key.

Joint Liability: What It Means When You File Together

When you file a joint tax return, both spouses are 100 percent responsible for everything on that return. That includes any errors, underreported income, or even fraud committed by your spouse whether you knew about it or not.

This is called joint and several liability, and it’s one of the biggest risks of filing jointly.

Some couples choose to file separately specifically to avoid this shared responsibility. This might be a good option if:

You’re unsure about your spouse’s financial habits
You’ve recently married and are still keeping finances separate
One spouse is going through financial or legal issues

Just keep in mind that filing separately comes with trade-offs.

Tax Breaks You Might Lose When Filing Separately

Filing separately can protect you from liability, but it often comes at a cost. Many tax breaks are reduced or completely disallowed when you file separately, including:

The Child Tax Credit
Education credits like the American Opportunity and Lifetime Learning Credits
The Qualified Business Income (QBI) deduction
The Earned Income Tax Credit
Certain student loan interest deductions

So while separate filing can feel safer, it can also lead to a higher tax bill especially if you would otherwise qualify for these credits as a couple.

When Marriage Results in a Tax Bonus

Not every couple ends up paying more after getting married. In fact, many do see a “marriage bonus.”

This often happens when:

One spouse earns significantly more than the other
One spouse has little or no income
Joint deductions and credits help lower your overall tax burden

In cases like these, filing jointly can significantly reduce your combined tax liability compared to what you’d each pay on your own.

Key Takeaways Before You File

Marriage is a deeply personal decision but taxes are a very practical part of it. Before your next tax season rolls around, take some time to understand how your relationship affects your finances.

Here’s what we recommend:

Review your combined income and see how it affects your tax bracket.
Consider whether filing separately or jointly makes the most sense for your financial goals and legal protection.
Watch out for changes to credit eligibility or deductions as your combined income increases.
Plan ahead if you’re newly married or engaged, especially if one of you is self-employed or has complex financial circumstances.

Let’s Talk About It Together

Whether you’re thinking about marriage, recently tied the knot, going through a divorce, or simply want to understand your filing options better, I’m here to help.

Call me at 480 355-1398 and let’s talk through how marriage (or staying single) could impact your taxes. The right strategy can help you avoid surprises and keep more of your money working for you.