Yes, the Blue Bell Wedding is more than a song by the 5th Dimension! The wedding bell blues in this case, is a reminder of the "not so fun" things that must be taken care of before you tie the knot. Namely, tax consequences and what that means to you both.
If you're older and been filing a single, filing a joint tax return can be like speaking in a foreign language. So there are several things that you should do before leaving on your honeymoon:
Check into whether an adjustment on your withholding tax is needed or not.
Let Social Security know if you have a name change. This is very important and could cause a delay in your tax return refund.
Update emergency contact information at your place of business and on any other important or emergency cards that you may have.
Decide whether or not you are going to file as singles or a joint account. A joint return, be aware, could push you both into another tax bracket. And, it may mean that couple will forfeit student loan interest and other tax benefits. Also, you can check if you quality for the marriage tax. But there are many stipulations here so go to an accountant and find the ins and outs.
Review your retirement plans as a married couple.
Change your credit card addresses and name (if it's being changed) and your license.
Speaking of a license, don't forget your marriage license! Don't laugh! It's happened twice that I know of!
Next thing you have to do? Relax. You're almost there. Before long you'll be on your honeymoon. Just heed this advice, and you will not be caught in a tax dilemma that you could have avoided.
Delora O'Brien is an expert in the area of Blue Bell Wedding. She is the resident consultant at Designs to Remember. Designs to Remember is a unique online store that carries designer wedding favors, bridal gifts and accessories. Delora also oversees the extensive line of unique wedding favors, bridesmaid gifts, groomsmen gifts and wedding invitations. Many of the Blue Bell Wedding.she has purchased for Designs to Remember, have been featured in well known bridal magazines.
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