Whats the difference between filing joint or filing seperate? Is it wrong to file seperate if you a legally married? Also If its not wrong what would be better to file joint or sepetate if my wife has been working only since Aug, making less than 10k per year?
2007-10-10 07:37:16 · 7 answers · asked by Mark M 1 in Business & Finance ➔ Taxes ➔ Other - Taxes
The best way to decide is to figure it out both ways and see which one works out with more money for you. It's not unethical, just smart. Chances are, you'll file joint.
2007-10-10 07:41:16 · answer #1 · answered by Anonymous · 2⤊ 0⤋
When married you can file a separate or joint return. Generally, it is best to file a joint return, but since your wife is making so little this year, you may want to compute it both ways.
2007-10-10 07:43:34 · answer #2 · answered by Buddy A 3 · 0⤊ 0⤋
It's not illegal to file separately, as long as you do file as Married. It IS illegal if you are married, and both of you file as single in order to pay less taxes.
Generally, it's better to file jointly so you can get all the deductions and such that you can. Most of the time, if a married couple files separately, they will end up owing taxes; but if they file jointly - they will get a refund.
2007-10-10 07:45:33 · answer #3 · answered by wibelle37 4 · 0⤊ 0⤋
In most cases, you will save on taxes by filing jointly. You can legally file separately if you wish, but this may not be an advantage. If your wife has a lien or garnishment tied to her social security number, only then I would consider filing separately.
2007-10-10 07:44:23 · answer #4 · answered by Anonymous · 0⤊ 0⤋
You are legally allowed to file either way, but you almost always save taxes overall by filing a joint return.
2007-10-10 07:39:55 · answer #5 · answered by Judy 7 · 2⤊ 0⤋
you have 2 possibilities; Married submitting mutually (MFJ) and Married submitting one by one (MFS). The later isn't a good theory. you're prohibited from submitting HOH in case you lived mutually any time interior the final six months of the year. The farmer element will make your return somewhat greater complicated yet you will possibly desire to nevertheless get a similar or greater desirable refund if his farming interest replaced into at a loss. you will possibly desire to work out a tax professional as they're going to possibly keep you greater money than they value.
2016-11-07 21:57:01 · answer #6 · answered by ? 4 · 0⤊ 0⤋
Calculate both ways and file the one that is most beneficial to you. Perfectly legal
2007-10-10 07:41:47 · answer #7 · answered by Squat1 5 · 1⤊ 0⤋