So Why Would Anyone Want to File Separately? 

Says Marc Strohl, "Today, the only case in which it would be beneficial for a married couple to file separately would be if one has had significant legal or medical issues." Says Strohl: "For example, one issue facing many married couples today is in vitro fertilization. Couples who get married later in life and who need the help of vitro fertilization face high medical costs and in this case, it may be beneficial for the couple to file separately." This is because the individual with high medical expenses will be able to write off a greater percentage of these expenses than if they filed jointly (based on a combined annual gross income). Moreover, the expenses you can deduct are generally based on how much money you made.

The State of the Marriage Penalty Today

Most representatives in Congress are in support of eliminating or lessening the tax burden on married couples, taking into account the societal changes that since the penalty was passed. Strohl reports that today the tax penalty has been virtually eliminated. Strohl reminds grooms, however, that there is an exception: "After earning $349,700, each dollar you earn is taxed the same regardless of whether you file jointly or individually."

Tax penalties and bonuses for married couples filing jointly vary from state to state, so grooms who will become husbands in 2008 should visit their state websites for up-to-date details.

December 31st is the magic date

In the eyes of the IRS, a couple is considered married for tax purposes for the entire filing year if they were married as of December 31st of that year. If you're a groom getting married in 2008 - that means you. Welcome to the "married, filing jointly" fraternity! [Page 2 of 2]