Is it better to file single with a child or married with a child on taxes. Because me and my wife wanted to know whats the best way to file and maximize our return this year. Im thinking of claiming myself and my son this year and my wife to file single but is this a wise choice? Any advice will be greatly appreciated...
2007-10-05 13:13:09 · 4 answers · asked by D'zignz of Kaos 3 in Business & Finance ➔ Taxes ➔ United States
Married filing jointly with the child. Your other option is married filing separately but you would not get your $1,000 child credit. Your wife is not single, she cannot file as single. Committing fraud is not a wise choice. Don't even think about it.
2007-10-05 13:20:13 · answer #1 · answered by Anonymous · 4⤊ 0⤋
If you are married then you have two choices: 1 Married filing separately or 2 Married Filing Jointly. If you are married as of December 31, 2007, then you file your taxes as one of the two earlier choices that I indicated to you. If you do something different that you and your spouse have filed "fraudulent returns" with the IRS and your state if they require Income Tax returns. Married filing jointly is the best way. Go ahead and try it on blank forms and you will see for yourself. But both of you should filed properly with the tax authorities.
2007-10-05 20:28:38 · answer #2 · answered by Gary 5 · 1⤊ 0⤋
No, not a wise choice since it isn't legal and can get you in significant trouble. Since you are married, it wouldn't be legal for either of you to file as single or as head of household. Your only choices are filing a joint return, or both of you filing as married filing separately. Filing a joint return almost always costs you less in total taxes than married filing separately.
2007-10-05 20:24:55 · answer #3 · answered by Judy 7 · 3⤊ 0⤋
I am a CPA but I use turbo tax each year. I enter two returns, one for MFS and one for MFJ. I then do the state as well and whichever has the lowest total is the way I file.
2007-10-05 20:27:38 · answer #4 · answered by toledogolf 4 · 1⤊ 2⤋