For most H1B couples, Married Filing Jointly saves $2,000–$8,000 in taxes annually.
The H1B Marriage Financial Checklist
1. Update Tax Filing Status
Marriage changes your IRS filing status. You can now file as:
- Married Filing Jointly (MFJ) — usually results in lower combined tax
- Married Filing Separately (MFS) — sometimes better if one spouse has significant deductions
For most H1B couples, Married Filing Jointly saves $2,000–$8,000 in taxes annually.
2. H4 Visa for Spouse
If your spouse is in India, they need an H4 dependent visa to join you in the US.
- H4 visa allows them to live in the US but not work (unless H4 EAD is approved)
- H4 EAD (Employment Authorization Document) allows spouse to work — processing takes 6–18 months currently
- Cost: $370 filing fee + attorney fees ($500–$1,500)
3. Open Joint Bank Account
Most US banks allow joint accounts for H1B + H4 spouse:
- Chase, Bank of America, Wells Fargo all support this
- Spouse needs ITIN if they don't have SSN (apply with Form W-7)
- ITIN takes 6–11 weeks to process
4. Add Spouse to Health Insurance
Marriage is a qualifying life event — you have 30 days to add your spouse to your employer health plan.
5. Update Beneficiaries
Update beneficiaries on:
- 401k / retirement accounts
- Life insurance policies
- HSA account
- Bank accounts (POD beneficiary)
6. Send Money to India for Wedding
For the India wedding ceremony: use Wise or Remitly for large transfers. For amounts over $10,000 in a single transfer, be aware of bank reporting requirements (no tax impact, just reporting).
Best apps to send money to India →
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