Congratulations!
And kudos for thinking about the tax implications in plenty of time to prepare before year-end!
First, it is recommended that, if you're employees, you update your Form W4 Withholding Allowances with your employer(s).
Being married gives you the choice of filing a joint or separate returns. If you have children, this will be an important decision as some of the dependent related credits are limited when filing separately. If you don't have children it comes down to which filing status is best for you. I encourage you look at both a joint return and separate returns to be sure which gives you the smaller tax obligation.
Here is a link to an article on our support site that covers all the aspects for newlyweds: https://turbotax.intuit.com/tax-tips/marriage/getting-married/L0DvEUlEC
No, gifts are not taxable to the person receiving the gift ... enjoy!
I hope you find this information helpful. If so, please say 'Thanks' by clicking the thub icon below.
Elizabeth W., EA
