07 Jun Is Married Life Less Taxing?
As the tax specialists at Walters S. Sanders & Associates, which has a reputation as one of the friendliest CPA firms in Tampa, will tell you, there are definitely tax advantages associated with married life.
Of course, gaining a few tax advantages isn’t a good reason to get married, but, if you’ve found that special someone who believes in you and makes you feel kind of weak in the knees when they look at you that certain way, then the tax benefits are icing on the cake.
Tax Benefits of Being Married When Filing Your 1040 Tax Return
In some situations, married couples may find themselves facing what is referred to as a “marriage penalty.” It’s not really a penalty, it’s simply that sometimes it may be more to your advantage of the ability to file as single even though you are married.
There are other potential benefits, ranging from being able to claim more in charitable deductions to estate protection. An experienced Tampa accountant, like Brian Sanders – the second generation of the Sanders family to take the helm at the Tampa CPA firm of Walter S. Sanders & Associates, can help you determine what is the best tax strategy for you and your spouse to pursue when the time comes to file your 1040s.
Other Benefits to Being Married
The List, a TV magazine show, reports that there are also quite a few surprising benefits to being married that have nothing to do with your taxes, including:
- Living longer
“Living with a partner lowered the mortality rate for men by 80 percent and for women by 59 percent, according to researchers from Michigan State University and the University of Cincinnati,” The List says.
- Enjoying a better night’s sleep
The List looked specifically at research related to married women, who, they say researchers concluded sleep better. “The happier the women reported being in their marriages, the easier it was for them to fall and stay asleep.”
- Reducing risky behavior
“Over time, being married can actually change the way people behave for the better,” The List says. “One interesting way is that married people take fewer risks, including substance abuse.”
If you are looking for love and someone special to file your 1040 tax return with, you might want to try one of the online dating sites. But, if you are looking for a Tampa CPA who can help you and your spouse determine an effective tax strategy, then we hope you will contact the tax specialists at Tampa’s Walter S. Sanders & Associates.