Marital status affects your taxes

Posted on Aug 27, 2015

Your marital status can have a major impact on your taxes. Sometimes changing the date for a wedding or the timing of a divorce can be a major tax saver. If you and your spouse-to-be have similar incomes, you may become subject to the marriage penalty and pay higher taxes as a married couple than you would as singles. A divorce certainly requires some tax planning. How you structure support payments, who gets to claim the tax exemptions for dependent children, and how you split up assets can make a huge tax difference to both parties.

Gilliland & Associates, PC is a full-service CPA firm specializing in tax planning for individuals and businesses in the Northern Virginia area. We are based in Falls Church, VA and also service clients in the McLean and Tysons Corner, VA. Gilliland & Associates specializes known for our superior knowledge and aggressive interpretation and application of tax laws, we help you keep more of your earnings by finding you the lowest possible tax on your business or personal tax return. You can connect with us on Google+, LinkedIn, Facebook, and Twitter.

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