Me and my fiancé are planning on getting married after 3 wonderful years :) However, I don’t have anyone to really speak with about the entire process and what all I need to do legally. I’m talking about how to change names on documents and things like that. Also how will marriage affect your taxes? So many questions! Please give all advice you can! Thanks
Answers (3)
Soooo, first off, Congratulations! First thing you will need to do is make a trip or schedule an appointment with social security to turn in your name change form. You may be required to provide your marriage license along with some other proof of identity. Once you have done that you will want to go to DMV to get a new license with your new legal name. At this point you will need to contact all banking offices, credit card offices, doctors offices, etc. to let them know about your new last name. You might have to get new credit cards in the mail and such. Kind of a pain, but it can be done!
Marriage will affect your taxes by how much money is being made between you both instead of independently. Now depending on whether you have any dependents to claim (children or each other) you may have to pay out taxes or might get a tax break. One of you will be claiming the other since I am assuming you will be filing "married, filing jointly". Or you can file as married filing separately. Your choice.
Up to about 20k you most likely won't owe money but this is why it can change once you get married. More income means IRS will want some more money depending on your joint income.
I am a single mother and claim myself plus my kids. So if I make a certain amount of money I can get a child tax credit which boosts my return by approx $1000 per kid. But last year I went $1200 over my allowed annual income and lost out on the child tax credit!!! This really hurt me because I used that money sparingly throughout the year to help get us by. So there are some fine lines between earnings and whether you get a good tax return or not.
Best of luck!!!
http:// www.theknot.com/content/name-change-101
To click on the link and go to the list remove the space between the // and www.
Be aware that if you work and have anything that requires next of kin or someone who inherits your life insurance or unused vacation time money or retirement account make sure hubby's name is there if you want him to get it.
Thank you so much! That really helped me!