The summer wedding season is winding down, and while Kim Kardashian may have spent more on her wedding cake than many people spend on their entire wedding, she has something in common with every other newlywed around.
Once the honeymoon is over and the thank-you notes have been written, every new couple is going to have to file taxes (although Kim likely has an accountant).
The Internal Revenue Service recently offered up seven tips for newly married couples.
Among them: Check your withholding rate to make sure you aren’t either giving Uncle Sam too much or setting yourself for a big tax bill at the end of the year. Also, do a little research to find out whether it’s more beneficial to file jointly or separately.
In a post last year marking the occasion of a less successful celebrity match – Bristol Palin and Levi Johnston – our pals at Bankrate.com also offered up some tax tips for newly marrieds.
Among them: If you’re changing your name, let Uncle Sam know about it. And if you have kids already or are planning to, make sure you take advantage of all those child-related tax breaks.