Most people have the goal of getting married one day, and possibly starting a family. But in modern times, it has become more and more common for people to choose to be life partners without ever getting married Some people would rather not have the legal contract between the two of them to prove their love.
However, getting married has loads of legal and financial perks compared to staying in a regular relationship. Here at Self-Made, we will go over all of the advantages couples will have with money once they tie the knot.
40. Tax Incentives and “Bonuses”
For most married couples, they will pay less in taxes when they file together under one household. They typically get a higher exemption since they are two individuals coming together. Even if only one spouse is working, they still get that double tax exemption, which often leads to bigger tax breaks on their taxes.
The tax benefits don’t stop there either. You can also use your spouse as a tax shelter in case of a business deal gone awry. And you can protect the estate if one of the spouses passed away.