If you tied the knot this past spring or summer -- or are thinking about marriage -- the
IRS has some important tax tips you should know. Here are five things any of you newlyweds should do after you walk down the aisle:
• Notify the Social Security Administration
So now that you've found Mr. Right, you're changing your name, huh? Or maybe you plan to hyphenate, keeping your existing name, but adding on your honey's last name too. Either way, be sure to report that name change to the
Social Security Administration (SSA). You want your new name and Social Security Number to match when you file your next tax return to avoid any potential problems.
It's easy to let the SSA know about a name change. Just file a
Form SS-5, Application for a Social Security Card, at your local SSA office, get it online from the SSA's website, or call 800-772-1213.
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10 Ways To Avoid Being A Bridezilla
Delegate
You may think you're wonder woman but you can't do or control everything or else you'll go insane. Have faith in those closest to you like your bridesmaids, friends, family and even the groom. The more people helping out the faster things will get done. Not to mention how much smoother things will go.
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10 Ways To Avoid Being A Bridezilla
Delegate
You may think you're wonder woman but you can't do or control everything or else you'll go insane. Have faith in those closest to you like your bridesmaids, friends, family and even the groom. The more people helping out the faster things will get done. Not to mention how much smoother things will go.
10 Ways To Avoid Being A Bridezilla
Don't abuse your family and friends
Everyone understands how important this day is to you so there's no need to constantly flip on your friends and family if things aren't going your way. Remember your wedding lasts for one day but your friends and family are there to stay.
10 Ways To Avoid Being A Bridezilla
Let people keep you in check
You don't think you'll freak out when you're planning your wedding? Ok, so you're in denial. Expect to lose your cool, it's ok but give your loved ones permission to snap you back into reality. The ones closest to you know you best so they should be able to tame your tantrums.
10 Ways To Avoid Being A Bridezilla
Don't freak out
Expect mishaps on your wedding day. Bumps are bound to happen but approach these situations in stride. If you think with a calm and clear mind then you'll be able to find the solution to the problem sooner than if you lose your cool.
10 Ways To Avoid Being A Bridezilla
Relax
Take time away from the pressures of planning each day and do something relaxing like getting a facial or a pedicure. Although it's exciting to plan a wedding it can also be extremely stressful, so it doesn't hurt to unwind and not think about the big day for awhile.
10 Ways To Avoid Being A Bridezilla
Include the groom
Sure he may be clueless when it comes to what color the linens should be or what type of floral arrangement you should have for your bouquet but he is good for something, right? Of course! If you include the groom in your decision making it may ease the stress and make it a bonding experience by showing him that his opinion matters too.
10 Ways To Avoid Being A Bridezilla
Don't sweat the details
Are people really going to complain about how you had gardenias instead of tulips at your wedding? Chances are no. People aren't there to pick apart your wedding, they're there to celebrate this special day with you so don't let tiny details get you down.
10 Ways To Avoid Being A Bridezilla
Focus on your marriage
With all the hoopla that comes with planning this day many women forget about getting prepared for marriage. Don't forget what this day is all about: spending the rest of your life with the person you love. Consider attending marriage counseling so you can learn what to expect once you jump the broom.
10 Ways To Avoid Being A Bridezilla
Set aside alone time with your man
With all the hustle and bustle of planning a wedding, women often forget something, rather someone important. The man you're marrying. Set aside one on one time with your man to keep the flame alive amid all the chaos.
10 Ways To Avoid Being A Bridezilla
Focus on the BIG picture
Your wedding, though very important as it may be, is only one day. Realize that this is only one of the many memories you and your future husband will share so don't put it on a pedestal. Your wedding day isn't necessarily a indication of things to come. If things don't go smoothly on the big day it doesn't mean your future is doomed.
10 Ways To Avoid Being A Bridezilla
• Tell the IRS
Are you moving in with your spouse or will the two of you be getting a new place together? If so, advise the
IRS of your new address by submitting Form 8822, Change of Address. You may download Form 8822 from IRS.gov or order it by calling 800-TAX-FORM (800–829–3676).
• Advise the U.S. Postal Service
While you're taking care of the whole address change thing, don't forget to also notify the
U.S. Postal Service when you move. That way, they'll forward any IRS correspondence -- as well as other mail you might get. Like that $50 check your great Aunt Helen might send as a wedding gift.
• Inform Your Employer
Next up on your things to do list: Inform your employer about your name and address changes. You want your employer to have the right information on file when they send out your Form W-2, Wage and Tax Statement next year.
• Check Your Withholding
If you and your spouse both work, your joint income may put you in a higher tax bracket. Use the
IRS Withholding Calculator to figure out the proper amount of withholding needed for your new filing status. That IRS Calculator will even give you a new Form W-4, Employee's Withholding Allowance Certificate. Print that form and give to your Human Resources department, so your employer can withhold the right amount of taxes from your paycheck.
Marriage isn't just about love and happiness. It also means joint commitment at many levels, including shared financial responsibilities. So even though you might be basking in newlywed heaven, don't overlook tax-related issues even at this early phase of your union. Look at it this way: With financial problems contributing to so many divorces, you can do yourself a favor by taking the five steps listed above. A little time spent now will help keep your marriage strong by minimizing financial stress later.
Lynnette Khalfani-Cox, an award-winning financial news journalist and former Wall Street Journal reporter for CNBC, has been featured in the Washington Post, USA Today, and the New York Times, as well as magazines ranging from Essence and Redbook to Black Enterprise and Smart Money. Check out her New York Times best seller
'Zero Debt: The Ultimate Guide to Financial Freedom.'
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Comments: (1)
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By: Cynthia on 10/28/2010 5:51PM
Great post! Really good insight. It’s always difficult to discuss finances and share money in relationships. Thanks for your advice. I recently stumbled upon this blog like I stumbled upon yours. I think they offer some good points and laughter about the topic: http://burisonthecouch.wordpress.com/2010/09/22/dolla-dolla-bill-yall/
Thanks for the post! I’d like to see more like it.
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