2006-12-07 05:59:16 · 16 answers · asked by HoneyGirl 3 in Business & Finance ➔ Taxes ➔ United States
Your marital status as of December 31st dictates how you file for the year. Since you were married this year and assuming you'll still be married on December 31st, then you have 2 choices and 2 choices only:
1st and probably the better choice is "Married Filing Jointly"
2nd and usually not the better choice is "Married Filing Seperately"
Check with your accountant on which way better serves you. If you do it on TurboTax or similar program, run the tax return seperately and jointly to see which way is best.
Most likely, "Married Fling Jointly" is the best option with few exceptions (not going into exceptions, would take too long). Good luck!!
2006-12-07 06:07:23 · answer #1 · answered by NoNickname 2 · 4⤊ 0⤋
Can you file a joint return this year? Yes you can.
Should you? That is a more difficult question to answer. It depends on your situation and your total deductions. Also, are you expecting any tax credits? If so, you should file a joint return because many tax credits are denied for anyone that files as married filing separately. Are there any issues with your husbands taxes? If so, then file separately because you do not want to be liable for his taxes if you get audited and it is determined that he owes a ton of money. Just remember, if you sign a joint return, then you are jointly liable. Basically, its best to run the numbers.
2006-12-07 12:12:53 · answer #2 · answered by Steve 6 · 1⤊ 0⤋
Yes, as long as you are married by December 31st, you can file a 2006 joint tax return. The decision whether or not to file joint or separately is up to you. Personally, my husband and I choose to file a joint return. We pay slightly less tax than if we filed separately.
An easy way to determine whether you should file joint or separate returns is to use TurboTax software and key in a joint return and two separate returns. Then compare the total tax liability on your joint return with the total tax liability on the two separate returns and see which is more favorable to you.
Good luck, and congratulations on getting married!
2006-12-07 06:57:05 · answer #3 · answered by kerry77 3 · 1⤊ 0⤋
Yes you can file joint tax returns. If you have a baby in December you can claim it for the whole year also.
2006-12-07 06:00:53 · answer #4 · answered by Texan 6 · 2⤊ 0⤋
You marital status is determined on December 31 of each year. If your married on that day and not separated under a legal separation agreement you will either file as married filing jointly or as married filing separately. Joint filing is generally cheaper unless one of you has low income and high deductions for medical or miscellaneous deductions.
2006-12-07 07:28:11 · answer #5 · answered by waggy_33 6 · 0⤊ 0⤋
Your marital status at midnight on the 31st of december is your status for the entire year. You can file married, filing joint or married, filing seperate for year of 2006. Run it both ways and do that which is to your advantage.
2006-12-07 07:18:44 · answer #6 · answered by acmeraven 7 · 0⤊ 0⤋
Yes you can file a joint return....try doing it both ways and see which way you get more money though before you send it in
2006-12-07 06:07:08 · answer #7 · answered by trivia buff 5 · 1⤊ 0⤋
Find out how much your taxes would be if "married filing separately" vs. "married filing jointly." I think you can choose between the two, but I'm pretty sure you have to tell them you're married.
2006-12-07 06:01:01 · answer #8 · answered by sarcastro1976 5 · 2⤊ 0⤋
Yes then you be able to do youre own file then get devorced then seperate whith no dependents on your return statements.
2006-12-07 10:22:39 · answer #9 · answered by bret f 3 · 0⤊ 0⤋
Yes you can and yes you should. You get more of a tax break if you are married. Both from state and Federal.
2006-12-07 06:01:57 · answer #10 · answered by Amy_S 3 · 0⤊ 1⤋