How Does Getting Married Affect Taxes?

Getting married changes your filing status — you can now file as Married Filing Jointly or Married Filing Separately. Combining incomes can sometimes push you into a higher tax bracket (called the "marriage penalty") or lower your taxes overall (the "marriage bonus"). Update your W-4 at work after you marry to avoid under-withholding. You may also gain or lose eligibility for certain credits based on your combined income. Consider running a joint vs. separate comparison each year to see which filing status saves you more.