Marriage effect on taxes while in school

[clinicalscience808]

I didn't see any prior posts about this specific section of the subject but if there are any I'd be happy to read!

I have been with my boyfriend for 4 years and am heading to vet school in Fall 2018. We've been talking about getting married (we're basically engaged just not publicly) but I have no idea what the implications of that are on vet school and taxes in general. I'm fortunate enough that my parents will be providing the majority of my vet school tuition, although I would like to know how marriage affects student loans as well. If anyone has any input or knowledge on how taxes are affected by marriage I would greatly appreciate it (I am really bad at taxes in general so the concept is sort of foreign to me). We'd be living in different states for vet school so I'm not sure if we would have to file separately anyway.


On sort of a side note, my parents are very overprotective and have told me that once I'm married I won't have any financial support from them. However, I'm not sure how serious they were being considering that they are very invested in my education and really want to help me through school without loans (at least for now) since my mom had major student loans after grad school. I hate the thought of being financially dependent on my parents once married (even if that is only for tuition) but I really don't feel the need to put my engagement or possible marriage off in my life. I am planning to work at least part time in school as long as I'm able to hopefully cover rent and other expenses. If anyone has any thoughts on handing that situation I would also appreciate it. Sorry for the multiple questions!

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[LyraGardenia]

Here are a couple previous threads that kind of address this issue! Marriage and Financial Aide
Marriage and financial aid

I don't know the details on how marriage affects taxes, although I probably should since I'm getting married in June, lol.

As for the second part, I'd definitely have a conversation with your parents about what, if anything, they're willing to contribute once you're married, that's a really personal decision. I understand the desire to be financially independent once you're married, but if your parents are willing and able to help out, I'd have a tough time turning that down. Also I wouldn't count on being able to work enough to cover your rent during school, unless you have really cheap rent. It will be very difficult to work more than around 15 hours a week in vet school, so you could make a little extra spending money, but not enough to make a huge dent in your overall living costs.

 

[PppermintTwist]

I'd take the money and just wait to get married. Your relationship isn't worth less without the title.

I didn't notice any real benifits on my taxes once married. ( not in vet school)

 

[SkiOtter]

I'm getting married in June, lol.

Omg I'm gonna have a son

 

[clinicalscience808]

Here are a couple previous threads that kind of address this issue! Marriage and Financial Aide
Marriage and financial aid

I don't know the details on how marriage affects taxes, although I probably should since I'm getting married in June, lol.

As for the second part, I'd definitely have a conversation with your parents about what, if anything, they're willing to contribute once you're married, that's a really personal decision. I understand the desire to be financially independent once you're married, but if your parents are willing and able to help out, I'd have a tough time turning that down. Also I wouldn't count on being able to work enough to cover your rent during school, unless you have really cheap rent. It will be very difficult to work more than around 15 hours a week in vet school, so you could make a little extra spending money, but not enough to make a huge dent in your overall living costs.

Thanks for the thread! I have been worried about rent and other expenses during vet school since I hate feeling indebted to my parents for so much considering I'm 20 and still live at home (until vet school of course). I don't want to stress myself out with working a whole lot and trying to cover everything myself, but I'm having trouble coming to terms with them paying for so much for myself, let alone if I was married. I agree that I should have a conversation with them, although sitting down with my parents to discuss personal issues usually doesn't come to the conclusion that I was hoping for, so I might push it off a bit until I am more mentally prepared for it. Thanks for the comments!

 

[clinicalscience808]

I'd take the money and just wait to get married. Your relationship isn't worth less without the title.

I didn't notice any real benifits on my taxes once married. ( not in vet school)

I definitely see your point. I would love to be married to just be connected legally, but I acknowledge that it's totally not needed. We're together and the document really doesn't change much about our relationship itself. That being said, like I said above I hate being indebted to my parents in general but that's more of a personal issue having to do with my relationship with my parents... Thanks for your input though! Seriously, every opinion is helpful.

 

[that redhead]

It is FAR better to be indebted/dependent on your parents instead of the federal government. If they won't pay if you get married, WAIT. No tax amount you get back will outweigh that sum.