married w/ a 1 year old baby
2007-02-02 07:13:23 · 5 answers · asked by Ashley G 1 in Business & Finance ➔ Taxes ➔ United States
There is a website called www.taxactonline.com. Before you actually submit your taxes for filing, it will give you an option to view whether it would be more beneficial to file jointly or separately.
2007-02-02 08:34:49 · answer #1 · answered by megan33wz 2 · 0⤊ 0⤋
In only rare occasions is married filing separately ever more beneficial than married filing joint. You should do your returns both ways to see which is better.
2007-02-02 07:17:47 · answer #2 · answered by jseah114 6 · 1⤊ 0⤋
Married filing separately usually has higher tax brackets and alot of credits and deductions are phased out or not allowed at all. But,it still depends on your situation. So, it is better to do it both ways and find out which one is more beneficial
2007-02-02 07:33:34 · answer #3 · answered by ash 2 · 0⤊ 0⤋
It is very rare that you would pay less tax my filing married filing seperate. However, there are circumstances where this makes sense.
If you are worried about it, take a look at the tax both ways and file in the manner that is most advantageous tax wise.
2007-02-02 07:20:19 · answer #4 · answered by CPA 2 · 0⤊ 0⤋
If one of you has very high deductible medical bills or employee expenses, then possibly but not for sure. Otherwise, no, joint would be at least as good and probably better.
2007-02-02 09:59:38 · answer #5 · answered by Judy 7 · 0⤊ 0⤋