Marriage and Taxes – What You Need To Know

Married couples deal with a multitude of tax – related questions. It takes time to learn how to take advantage of tax benefits and avoid possible pitfalls. And who wants to take the time to learn about taxes? Yawn! That’s why we’ve looked into it for you.

The first thing that a newlywed couple should be aware of is that the Internal Revenue Service considers you married for the entire tax year, even if you got married at 11:30pm on December 31st. Now that you know that, though, you have got to decide how you want to file.
Many couples face a debate over whether to file their taxes jointly or separately. There are a number of reasons to decide for and against each option, and they depend upon your specific situation. Here are three reasons to file jointly:

State Regulations For Short Term Loans

Over the past few months there have been numerous new reports out about various new short term loan laws and regulations that the states are either passing, or trying to pass.  The new laws are meant to protect consumers from what regulators call ‘cycle of debt’ and they say that the short term loan industry is an instigator of this vicious cycle by offering online payday loans. However, these laws sometimes end up hurting the ones that they are trying to help, while at the same time creating loopholes for the industry culprits to jump threw.  What ends up happening is that the regulators often have to go back and re-debate regulations, add more regulations, and nor abandon the regulations that they had already set up.  All of these actions require more tax payer money, as well as time and resources from the regulators to try to get the laws passed.