Message Font: Serif | Sans-Serif
No. of Recommendations: 0
Can someone help a "newly" married and new to money management? We are both 45 , no children.
How do I manage the deductions from my paycheck so I'm not giving it all to the government up
front? (we clear about 90K together).

This question is fairly vague, you can alter your w2's at work but after you get married almost everyone pays more tax than they did before. In our office if we hear of an engaged couple we have them change their w2's immediately. That's because the government tax code includes this wonderful thing called the marriage penalty. It has to do with reducing the amount of total exemptions and raising the effective tax bracket of people who file married as opposed to single.

I'm not sure if I answered the question or not, but I hope this helps.
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.