Are there financial incentives to getting married?

M

Melissa Me

New member
I'm not looking for the obvious reasons for marriage (love, god told you to, kids). And we know we will be sharing money, so I'm not looking for that either (very simplistic view).

My boyfriend and I are thinking of getting married and we want to know how this will affect us come tax time. Do people come out better or worse financially after having married than compared to when they were single?

We do not plan on having children, so there will be no deduction or extra cost there.
 
With no kids, it will probably come close to even at tax time.

The exception would be if one of you owed a house and was itemized but the other was just claiming the standard deduction. In that case, there may be a disadvantage to getting married.
 
If you ave enough to Itemize, yes, it is greatly superior to single. Watch all you output (Car payments, insurance, fuel, clothes..anything that has anything to do with travel for work, work or looking for work, etc.) Property is wonderful to buy and own as a couple too..great writ offs for interest. Have fun and Good Luck, you two.
 
In the UK, when one of you dies the other can inherit all your worldly possessions with out paying inheritance tax. Possibly the only benefit.
 
In the UK, when one of you dies the other can inherit all your worldly possessions with out paying inheritance tax. Possibly the only benefit.
 
In the UK, when one of you dies the other can inherit all your worldly possessions with out paying inheritance tax. Possibly the only benefit.
 
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