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AARP

Time to Double-Check Your Paycheck

By Gary Strauss

Your marital status is changing. If you get married at any time during the year, the IRS considers you married the entire year. Likewise, if you get divorced, tax-wise, you’re considered divorced for the full year. “You may want to adjust your W-4 to factor in your spouse’s income, deductions, and credits or lack of,’’ says Eric Bronnenkant, an accountant, certified financial planner and head of tax at investment firm Betterment. “And if you’re getting divorced, you might want to adjust your W-4 to ignore all of your ex-spouse’s income, deductions and tax credits.”

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This article originally published February 13th, 2018 on AARP