Once a married couple files jointly, can they file seperately the next year if it would be of better financial interest to them? Also, suggestions for good tax programs that are low cost and will allow us to play with options that might increase our tax return below filing officially?
2007-02-13 16:41:41 · 9 answers · asked by reconnermom 3 in Business & Finance ➔ Taxes ➔ United States
yes...if you are married you basically have 2 choices...joint or separately (which means you both would file that way)...generally joint is financially better because you may not be eligilbe for certain credits with MFS but i guess you could play around with it. H&R blocks tax cut is only like $30 or so and you can play around with numbers if youd like and then when you have decided you can efile right through the program
2007-02-13 16:48:41 · answer #1 · answered by imaginadia510 2 · 0⤊ 0⤋
As long as you are married on Dec. 31st, you may file either jointly or separately any year regardless of how you filed the year before.
I have touted Turbo Tax many times here as a great tax software that is very easy to use. It costs around $50 for the deluxe version, which has state filing included.
2007-02-13 16:53:59 · answer #2 · answered by Brian G 6 · 0⤊ 0⤋
Married file Joint returns are almost always better than Filing separately or Single because the standard deductions is much higher, the tax rates themselves are lower for higer income rates, and the ohase out ranges for deductions are higher meaning that certain deductions that get ruduced for higher income individuals are higher for Married filing joint returns.
Forget all those worthless tax programs and hire a professional. Tax act (checkk out their website at www.taxact.com is good though.
2007-02-13 18:23:13 · answer #3 · answered by Brad S 2 · 0⤊ 0⤋
Yes, you may change your filing status from married filing jointly to/from married filing separately.
I'd recommend TurboTax. Depending upon your specific circumstances, i.e., own property, investments, etc., there are different levels of the software. I believe the least expensive for basic returns is around $20 or so.
It is sold on Amazon.com, but you can read more details about the software from their website:
http://www.intuit.com
Good luck!
2007-02-13 16:48:36 · answer #4 · answered by Beni 3 · 0⤊ 0⤋
Each year is separate from the other years, so you can switch back and forth between filing jointly and filing separately if you want to.
You can amend returns from filing separately to filing jointly, but can't amend a joint return to filing separately.
2007-02-14 09:40:40 · answer #5 · answered by Judy 7 · 0⤊ 0⤋
e file .com and yes you can file seperatly after the initila joint filing yet how is it that this would help ? you can claim more deductions as a couple good luck by the way i am a certified cpa
2007-02-13 16:45:17 · answer #6 · answered by Mark R 3 · 0⤊ 0⤋
What a waste of web space!
2007-02-15 04:26:51 · answer #7 · answered by Anonymous · 0⤊ 0⤋
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2007-02-15 04:53:01 · answer #8 · answered by Desire 2 · 0⤊ 0⤋
Thanks for the points.
2007-02-15 05:18:35 · answer #9 · answered by Anonymous · 0⤊ 0⤋