Social Security Administration | The Advisory Group, Corp

If you’re preparing for summer nuptials, make sure you do sometax planning as well. A few steps taken now can make tax time easier next year. Here are some tips from the IRS to help keeptax issues that may arise from your marriage to a minimum:

Change of name. All the names and Social Security numbers on your tax return must match your Social Security Administration records. If you change your name, report it to the SSA. To do that, file Form SS-5, Application for a Social Security Card. The easiest way for you to get the form is to download and print it on SSA.gov. You can also call SSA at 800-772-1213 to order the form, or get it from your local SSA office.
Change tax withholding. When you get married, you should consider a change of income tax withholding. To do that, give your employer a new Form W-4, Employee’s Withholding Allowance Certificate. The withholding rate for married people is lower than for those who are single. Some married people find that they do not have enough tax withheld at the married rate. For example, this can happen if you and your spouse both work. Use the IRS Withholding Calculator tool at IRS.gov to help you complete a new Form W-4. See Publication 505, Tax Withholding and Estimated Tax, for more information. You can get IRS forms and publications on IRS.gov/forms at any time.
Changes in circumstances. If you receive advance payments of the premium tax credit you should report changes in circumstances, such as your marriage, to your Health Insurance Marketplace. Other changes that you should report include a change in your income or family size. Advance payments of the premium tax credit provide financial assistance to help you pay for the insurance you buy through the Health Insurance Marketplace. Reporting changes in circumstances will allow the Marketplace to adjust your advance credit payments. This adjustment will help you avoid getting a smaller refund or owing money that you did not expect to owe on your federal tax return.
Change of address. Let the IRS know if you move. To do that, file Form 8822, Change of Address, with the IRS. You should also notify the U.S. Postal Service. You can change your address online at USPS.com, or report the change at your local post office.
Change in filing status. If you are married as of Dec. 31, that is your marital status for the entire year for taxpurposes. You and your spouse can choose to file your federal tax return jointly or separately each year. It is a good idea to figure the tax both ways so you can choose the status that results in the least tax.

If you have any questions about your personal taxes after becoming married, please feel free to contact our office.

Source: IRS

Have you recently changed your name? If so, it can affect your taxes. The names on your tax return
must match Social Security Administration (SSA) records. If you have married or divorced and changed your name, you must notify the SSA of your name change. Also, notify the SSA if your dependent had a name change (for example, if you’ve adopted a child and the child’s last name changed).

File Form SS-5 (Application for a Social Security Card) to notify SSA of your name change. You can get the form from http://www.ssa.gov or by calling 800-772-1213. The new card will reflect your new name with the same SSN you had before the name change.

You also want to contact the IRS as well about changing your name.

If you have any questions, please feel free to contact our office.