Hey there, newly hitched lovebirds! Congrats on tying the knot! Amidst the confetti showers and the honeymoon planning, You might just be overlooking some unexpected advantages of your newlywed status. So, grab your better half, snuggle up on the couch, and let’s spill the tea on some of these lesser-known newlywed perks.
First off, let’s chat about the endless freebies and discounts. Did you know that flashing that shiny new wedding ring could score you everything from hotel upgrades to sweet discounts at your favorite restaurants? Being newlyweds often prompts business owners to go that extra mile just to put a smile on your faces. Don’t be shy to mention you’re just married – you might be pleasantly surprised!
Now, let’s talk about something really exciting: tax benefits! Yes, I know, “exciting” and “tax” in the same sentence seem like an odd match, but hear me out. Filing jointly can often lead to lower tax rates, higher standard deductions, and access to more tax credits. Newlyweds tax season might just become your new favorite time of year!
More money in the bank
Another perk to gush about? More moolah in the bank! Pooling resources can be a game-changer for your finances. Sharing expenses from rent to groceries can free up more disposable income. Plus, combining financial goals often means you’ll reach them faster – hello, dream vacation!
Home sale hoorah!
But here’s the kicker: a little-known newlywed perk that could make a big difference in your future plans. . Ever heard about the home sale gain exclusion for newlyweds If not, hold onto your wedding hats, because this could mean a hefty windfall if you decide to sell your home.
The deal is, if you’re single and sell your primary residence, you can exclude up to $250,000 of the gain from your income. But if you’re married? That amount doubles to a whopping $500,000! The only catch is that you need to have lived in the house for at least two of the last five years.
As a married couple, you will be able to share your health benefits, which means if one of you has a fantastic health insurance plan through work, now’s the time to celebrate! Not every policy will allow you to share as a couple, but most will, so this is definitely something you will want to get right on to after the honeymoon is over!
More love to go around
As you join together, suddenly, you have twice as many people in your corner. Being a newlywed often means getting to know a whole new family and group of friends who can offer support, love, and let’s not forget – more holiday parties to attend! This is absolutely one of the best perks of being married!
There you have it, folks! The perks of being a newlywed aren’t just about constant companionship or permanent dinner dates (though those are great too!). You’ve got opportunities for financial wins, freebies, and some impressive tax benefits.
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