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Potential financial and tax benefits of marriage

Married couples can enjoy more tax benefits, retirement options, share living expenses, and potentially have more financial advantages. Let’s review some of the financial benefits of marriage.

Tax filing benefits for married couples

If you're married, you have two options on how to file your income taxes—jointly or separately. It can be an added benefit if one spouse provides most or nearly all the income. Married couples who choose to file as married filing jointly, can possibly lead to savings. 
There are situations in which you may choose to skip filing jointly and file separately. However, filing separately can have some disadvantages, like losing eligibility for certain deductions and credits, and the possibility of paying more in taxes. 

Access to benefits

Married couples may be able to boost the potential rewards of workplace benefits. They may have access to multiple retirement savings plans (with or without a match) that can help maximize savings opportunities. If they have a high deductible health plan with family coverage, they could potentially take advantage of higher contribution limits in a health savings account (HSA). If each spouse has access to health insurance through an employer, you may be able to pick the best one for your household.

Cost sharing

Splitting expenses like rent or mortgage, utilities, and food costs between two incomes could help you pay down debt faster or save more for the future. You could also consider sharing a single vehicle, if possible, for another potential budget win.

Increased savings

Research has shown there is a direct correlation to married people and retirement saving and investing, in comparison to those who are single.* Contributing factors such as cost sharing, combining resources, and the feeling of permanence in the relationship could account for the positive connection.

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*Brittany King, "Those Who Married Once More Likely Than Others to Have Retirement Savings," United States Census Bureau, January 13, 2022,

This information is general in nature and provided for educational purposes only.

Fidelity does not provide legal or tax advice. The information herein is general in nature and should not be considered legal or tax advice. Consult an attorney or tax professional regarding your specific situation.