2007-01-31 12:02:03 · 5 answers · asked by komputerzrkool 2 in Business & Finance ➔ Taxes ➔ United States
If there are child care credits involved - ALWAYS joint, as separately will not allow the child care credit.
If you have no children...then it will depend on how the state deals with the joint/separate issue as well. Sometimes you have to do the taxes both ways, for both fed and state, add up the total tax for fed & state both ways, and see which is better. Couples who make close to the same amount of money may benefit from fioing seperately.
Couples where there is one bread-winner, or one makes LOTS more than the other - go joint.
2007-01-31 12:11:20 · answer #1 · answered by Anonymous · 0⤊ 0⤋
It depends on the circumstances. If you have children MFJ is better if you file MFS is disallows for a lot of deductions you would get by filing jointly not only that you get a higher standard deduction by filing MFJ, which means a lower tax liability
2007-01-31 12:30:08 · answer #2 · answered by naomi2550 2 · 0⤊ 0⤋
In almost all cases, MFJ will result in the lowest total tax. The IRS suggests that you figure your taxes both ways and file whichever way works out best for you.
I've only seen a couple of cases (out of thousands of returns over the years) where MFS worked out best for the couple but it CAN happen in unusual circumstances.
2007-01-31 12:06:18 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Usually married, filing joint works out better. But it's easy enough to figure it both ways and see which works better for your situation.
2007-01-31 12:07:25 · answer #4 · answered by crazydave 7 · 0⤊ 0⤋
married and seperately is better at least you will have your own check and he his own.
2007-01-31 12:06:16 · answer #5 · answered by maria fkun 4 · 0⤊ 1⤋