Ep. 26 -“Tax Conversations for Newlyweds”

In today’s episode we talk about the conversations newly married couples need to have when it comes to filing and paying their taxes. We talk about the differences between married filing joint and married filing separately, why you need to disclose if you owe back taxes before the IRS sends you a letter that forces you to have that conversation, and what to know if the IRS withholds a refund because of those back taxes. We also discuss how one spouse might be used to getting back a refund, hello W2 employee, versus the self-employed spouse always owing and why discussing expectations early is the key to avoiding hostile tax filings every year.