My wife & I bouth work me full time her part time.would it be better for us to file taxs, seperately or jointly ?
2007-12-28 16:39:21 · 5 answers · asked by denver j 1 in Business & Finance ➔ Taxes ➔ United States
Officially try it both ways...but usually MFJ is the lowest tax bill.
2007-12-28 16:49:46 · answer #1 · answered by Anonymous · 3⤊ 0⤋
MFJ has the lowest tax rate. Then if you have kids it gets better.
but yeah, try it both ways and see for your self.
by the way MFS has the highest rates and you lose a lot of benefits that filing jointly offers.
just remember...our government wants people to get married and have kids so if that is your guiding logic then you will see what choices to make as far as taxes anyways.
2007-12-29 02:48:26 · answer #2 · answered by viajero_intergalactico 6 · 1⤊ 0⤋
I agree with viajero_intergalactico 100% Our gove5rment wants us to get married and have babies so they give lower tax rates to those who are Married and even more if you have children.
You can compare the differences in filing each way but I am certain that MFJ will be the way to go.
2007-12-29 05:52:20 · answer #3 · answered by Ivy 4 · 0⤊ 0⤋
It's almost always better to file jointly. The exception is if one of you has some deduction that is limited by AGI, like high medical expenses or unreimbursed business expenses. Even then a joint return is very likely better, but you could try it both ways and see.
2007-12-29 09:40:12 · answer #4 · answered by Judy 7 · 2⤊ 0⤋
Married Filing Jointly would probably be your best option. Married Filing Separately is the least desirable filing status to use. Try it both ways and you will see for yourself.
2007-12-29 07:41:31 · answer #5 · answered by Gary 5 · 1⤊ 0⤋