Should I file married but filing seperate? I made about $1,500.00 more than my husband in 2006 and we will have child care to deduct.
2007-02-25 07:04:11 · 4 answers · asked by jlkeiser3 1 in Business & Finance ➔ Taxes ➔ United States
You'll almost always have a lower tax liability by filing a joint return with your spouse -- Married Filing Jointly.
The tax rates are higher for Married Filing Separately AND you lose out on a number of credits such as the Earned Income Tax Credit, Child Credit, Additional Child Tax Credit, Dependent Care Credit, and educational credits. If you file a separate return, you can't claim the Dependent Care Credit, one more reason to file a joint retun.
2007-02-25 07:22:28 · answer #1 · answered by Bostonian In MO 7 · 1⤊ 0⤋
File married filing jointly, that gives you the best standard deduction, also deduct a $1000 for the child tax credit and if you are below the poverty line ask for EIC where the government pays you money instead of vice versa.
2007-02-25 07:09:48 · answer #2 · answered by Akbar B 6 · 0⤊ 3⤋
You cannot get the child care credit if you file separately. So definitely, file a joint return.
2007-02-25 07:08:28 · answer #3 · answered by ninasgramma 7 · 3⤊ 0⤋
You will recieve more back if you file married filing jointly. Not much more but you won't be able to use the head of household category. You would get only half the personal exemptions......
2007-02-25 07:45:45 · answer #4 · answered by TMAC 5 · 0⤊ 3⤋