What's the best way to file to receive the maximum refund?

Question

My husband and I make about $60,000/ year combined and we have two children. Next year will be our first year filing taxes since we have been married and we are wondering how to file. Why would someone file Married filing seperatly? Which married filing status is better?

Answer 1

It is unusual for a married couple to do better by filing separate returns. It is sometimes better because one spouse has itemized deductions that disappear in a joint return.

Do your taxes both ways, separating the children in all possible ways, and see which way is best. It probably will be best to file a joint return and claim your children together.

Answer 2

Married filing jointly almost always lets you pay less tax total between the two of you than filing separately. Sometimes it's just a few dollars, sometimes it's a lot more.

There are some fairly rare situations where filing separately is better. This could happen if one spouse has very high medical expenses or unreimbursed employee expenses - but even then, might or might not save by filing separately.

The other situation where someone might file separately is to keep from being responsible for anything questionable on the other person's return. On a joint return, each person is equally responsible for what is on the return.

Answer 3

Figure your return both ways and pick the one that is best for you. For most couples filing jointly works best. If you file separately there are 11 things that are eliminated or reduced so this doesn’t work for most couples. Most people file separate returns when they don’t want to be legally responsible for their spouses’ taxes. If you file joint and the return get audited you will be just as responsible for the back taxes as your spouse, regardless of whose fault it is. IRS doesn't care who they collect from as long as they collect.

Answer 4

You should file Married Filing Jointly especially if one of you makes more than another.

Answer 5

Joint