what kinda of tax breaks do you get for being married and having a house.?

Question

I usually have to file single with no dependents. But now I have a house and im married...So will this help or harm me when im filing my taxes..

Should I file jointly married or married filing single

Answer 1

Filing jointly almost always gives you a lower tax overall than filing separately.

For joint returns, the brackets are wider than for singles or married filing separately, so you generally pay a lower percent. If you own a house you can deduct mortgage interest and real estate taxes if you itemize, and that can save you some tax money although it might not.

Answer 2

File jointly, particularily if you have children. Joint filing rates are generally lower than filing separate rates unless both spouse have roughly the same income. If you own a house, your deductions are more than the standard deduction because you can deduct mortgage interest and property taxes. As a general rule, if you don't have house, you are not going to be able to itemize (not always, but most of the time.)

Answer 3

Your W-4 as single/0 is fine. If you get a huge refund, you can consider changing it.

As for the tax return, you can file married filing jointly or married filing SEPARATELY. Try it both ways, but MFJ usualy works out better.

If one of you itemizes, you both itemize on the separate returns. If your deductions are less than $10,700, you won't itemize anyway.

Answer 4

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Answer 5

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