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Happy February!

Valentine’s Day is just around the corner, and whether you’re planning the perfect date or just trying to dodge all the pink and red, there’s one big question that might be on your mind:

“Is getting married worth it?”

Sure, love and commitment are at the heart of marriage, but have you ever wondered if saying "I do" could also help you and your partner save on taxes and build wealth? It turns out, marriage might be more than just a romantic milestone—it could be the ultimate wealth cheat code.

Let’s break down how tying the knot could be a financial game-changer for you and your partner.

1. Two Incomes, One Set of Bills

One of the biggest perks of marriage is combining resources. Rent, utilities, and groceries don’t double when you’re married, which means more of your income can go toward saving, investing, or paying off debt. Sharing expenses is basically like giving your bank account a raise.

2. Tax Breaks for Married Couples

The tax code really knows how to roll out the red carpet for married couples. Here are a few key benefits:

• Higher Standard Deduction: For 2025, single filers got a $15,000 deduction. But for married couples filing jointly? That number jumps to $30,000. That’s a huge chunk of income you won’t pay taxes on.

• Marriage Bonus: If one of you earns significantly more than the other, filing jointly can push some of that income into a lower tax bracket, which could mean paying less in taxes overall.

• Extra Credits and Deductions: From the Child Tax Credit to student loan interest deductions, getting married could unlock additional tax perks.

P.S. Did you know that the combination of a high W-2 earner and real estate professional spouse is an incredible combination to save on taxes? You can learn more about how to take advantage of this here.

3. Double Down on Retirement Savings

Marriage also opens the door to some serious retirement savings opportunities:

• If one spouse earns little or nothing, they can still contribute to an IRA using the working spouse’s income—as long as you file jointly. (Check with your tax professional to see if this makes sense for you).

• Running a business together? Married couples can contribute double to a Solo 401k, supercharging their retirement savings. Here’s more information on adding your spouse to your Solo 401k.

With two people maxing out contributions and planning together, your future selves will thank you.

4. Bigger Financial Moves Become Easier

Marriage isn’t just about combining incomes—it’s about combining financial goals. Together, you can:

• Buy a Home: Dual incomes mean bigger loans and better terms. Plus, you’re building equity together.

• Lower Insurance Costs: From health insurance to life insurance, married couples often get discounted rates.

• Plan Your Estate: Passing assets to a spouse is tax-free, making estate planning much smoother.

5. What About the “Marriage Penalty”?

Okay, let’s address the elephant in the room: the so-called “marriage penalty.” If you and your partner both have high incomes, getting married might push you into a higher tax bracket. But don’t worry—there are ways to manage this. Working with a tax professional can help you optimize your strategy to avoid paying more than you need to.

6. Teamwork Makes the (Financial) Dream Work

Money can be a tricky topic, but when couples get on the same page about finances, the results can be powerful. Whether it’s creating a budget, investing in your future, or setting shared goals, marriage gives you a built-in partner for tackling life’s biggest money moves.

So, Is Marriage Worth It?

If you’re already in a committed relationship, marriage might just be the financial boost you didn’t know you needed. From tax savings to shared wealth-building opportunities, it can be a game-changer for your finances. Of course, it’s not a decision to take lightly, but if you and your partner are ready to take the leap, the financial perks are just the cherry on top.

Thinking about getting married? Or maybe just curious how to maximize your finances as a couple? Let’s talk about how you can make the most of your money—together.

Want to encourage your significant other to take the next step? Send them this article. Because nothing says romance quite like a solid tax strategy. 💍💸

What’s Happening at Carry Lab?

Here’s what you can expect in the coming weeks

See the full list of events here. ⏰

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If you want more resources on building wealth as a solopreneur/entrepreneur, check these out:

• The Solo 401k handbook

• The Roth IRA handbook

• The Self-Directed IRA handbook

• The Guide to Paying Less in Taxes

• What is a Solo 401k?

• How to Open a Solo 401k