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Should my spouse and I file jointly or separately?

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  • Terrath
    2015-02-26 06:05:43 AM
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    Which grant me a higher return and more deductions? I heard there are a lot of variables to consider
  • Dokos
    2015-02-26 08:03:08 AM
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    Do your taxes both ways then see which works out better. There are advantages and disadvantages to both.

    Jointly you can quialify for multiple tax credits such as the Earned Income Tax Credit; Adoption expenses; Lifetime learning and dependent care credit.

    Jointly aslo lets you deduct 2 exemption amounts and I think you get double to exemption amount

    IIRC, people with a lot of medical expenses usually are better off filing separately. But like I said before, do them both ways and file the one that works best for you.
  • JaredS
    2015-03-05 05:23:51 PM
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    Dokos Wrote: IIRC, people with a lot of medical expenses usually are better off filing separately. But like I said before, do them both ways and file the one that works best for you.
    That's great advice. My girlfriend and I were talking recently about how we will file taxes after we marry and her dad suggested the same thing.
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