Should I file taxes jointly with my wife or not?
My wife and I were married back in the beginning of November and in the upcoming tax season would it be better to file jointly or separately?
I don't have a tax man...anyone with experience, people who have done this before that would be a lot of help.
- sumbumblebeeLv 61 decade agoFavorite Answer
File Jointly. Unless one of you has a large tax debt. Or one of you had a ton of medical bills or random miscellaneous expenses that are deductible under the miscellaneous subject to the 2% of AGI rule (non-reimbursed employee expenses, union dues, etc.)
Except for in those rare circumstances, it is always better to file jointly. You get a tax break.
Hope that helps! :0)
- StephenWeinsteinLv 71 decade ago
For most married taxpayers, filing jointly is better. You have not provided enough information to determine if this is the case for you.
The best option is to fill out the forms both ways, and then send in whichever set produces a larger refund (or a smaller bill).
- 4 years ago
if you just started working in Nov. is it not likely that you will make $60K on your Sch C--or else you have a really great business! her $18K income probably has not had a huge amount of income tax withheld but if this is a concern for her you might prepare dummy separate returns and see what would actually be due her as a refund of course, filing separately if there is a consideration of EIC it is disallowed filing that way
- JudyLv 71 decade ago
You could calculate it both ways, a joint return or both of you filing as married filing separately. Those are the only two ways you are allowed to file - neither of you is allowed to file as single or as head of household.
Joint almost always works out better financially.
- How do you think about the answers? You can sign in to vote the answer.
- travelguruetteLv 61 decade ago
Usually joint is the better way unless you have other issues. Separately has a higher tax rate and some credits are eliminated.
- JssLv 71 decade ago
You can file as married filing jointly (MFJ) or married filing separately. In most cases, it is better to file as MFJ. Read http://taxipay.blogspot.com/2008/02/filing-status-...
- rtfmLv 71 decade ago
Just get the forms (or log on to one of the many online tax prep sites) and run the numbers both ways to see which works out most advantageously for you.
In about 95 percent of all cases, MFJ works out better than MFS.
- Anonymous1 decade ago
You would file a joint return claiming both incomes and see if you can itemize your deductions.
Seek a tax professionalSource(s): I am an income tax professional email@example.com
- hottotrot1_usaLv 71 decade ago
Most tax experts try and both ways and then recommend the one that requires you to pay less tax.