shiprepairwoman
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The only reason to ever file separately is if you can't get your spouse to sign the form or know they are committing fraud so you won't sign. |
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rtfm
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It almost always works out better for a married couple to file jointly. The easiest way to find out is to plug your numbers in at one of the online sites and see what the bottom line comes out to be for each filing status. |
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Judy1
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rtfm gives good info. To add to that, your only choices are a joint return or filing as married filing separately - neither of you can file as single or as head of household, and if you file separately, you can't take EIC even if you'd qualify if you filed jointly.
If you come up that filing separately looks better, double check your numbers, since unless one of you has very high medical or unreimbursed employee expenses, something is most likely wrong in what you entered. |
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chatsplas
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Rarely is it better to file MFS as you are no longer eligible for many tax credits. Try it both ways, but MFJ wins 98% of time. Normal situation as outlined above: MFJ. |
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v b
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I'm curious as to why you mentioned the 3 dependents.
On the married filing joint return, you list all of your children. While it's true that if your income is low, your refund may not change after adding the 2nd dependent, but that's just the way it works.
The IRS routinely searches out families that try to qualify for more EIC by illegally filing 1 or more returns as head of household. When caught, both spouses are barred from the EIC program for the next 10 years. |
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Jss
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You can file as married filing jointly (MFJ) or married filing separately. In most cases, it is better to file as MFJ. Read http://taxipay.blogspot.com/2008/02/filing-status-for-married.html |
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Laurence L
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As most people said, Marries Filling Jointly makes a lot more sense in about 99% of cases.
The only reason you would want to file separately would be if you and your spouse cannot agree on how to file (what to put on the return). Or if one of you is doing something questionable and the other one doesn't want to be responsible (it does happen!).
Filing separately prevents you from claiming some deductions. You cannot have a IRA contributions, etc.
Check this article for why you might want to file separately:
http://www.bankrate.com/brm/itax/news/20010524a.asp |
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bamboo
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Have you consulted a tax accountant? Might be a good idea. |
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Worldly25
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Married, filing joint is always the best option. Only in households where funds are not comingled or one salary is way more than the other. |
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