Getting married is a joyous and life-changing event, but it can also impact your finances in various ways, including your taxes. In this article, we'll explore the concept of the "marriage penalty" and how your marital status can affect your tax situation.
Marriage and Taxes
Filing your taxes is an essential annual task, and if you're married, one of the decisions you need to make is whether to file a joint tax return with your spouse or file separately. Each choice comes with its own set of pros and cons.