Should I file taxes jointly with my wife or not?

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Should I file taxes jointly with my wife or not?

My wife and I were married back in the beginning of November and in the upcoming tax season would it be better to file jointly or separately?
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I don't have a tax man...anyone with experience, people who have done this before that would be a lot of help.

sumbumblebee

File Jointly. Unless one of you has a large tax debt. Or one of you had a ton of medical bills or random miscellaneous expenses that are deductible under the miscellaneous subject to the 2% of AGI rule (non-reimbursed employee expenses, union dues, etc.)

Except for in those rare circumstances, it is always better to file jointly. You get a tax break.

Hope that helps! :0)

travelguruette

Usually joint is the better way unless you have other issues. Separately has a higher tax rate and some credits are eliminated.

taxtools

Jointly is almost always better.

TaxRef
http://www.pdftax.com/

Jss

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

rtfm

Just get the forms (or log on to one of the many online tax prep sites) and run the numbers both ways to see which works out most advantageously for you.

In about 95 percent of all cases, MFJ works out better than MFS.

Judy1

You could calculate it both ways, a joint return or both of you filing as married filing separately. Those are the only two ways you are allowed to file - neither of you is allowed to file as single or as head of household.

Joint almost always works out better financially.

xtraheavy01

You would file a joint return claiming both incomes and see if you can itemize your deductions.

Seek a tax professional

stephenweinstein

For most married taxpayers, filing jointly is better. You have not provided enough information to determine if this is the case for you.

The best option is to fill out the forms both ways, and then send in whichever set produces a larger refund (or a smaller bill).

hottotrot1_usa

Most tax experts try and both ways and then recommend the one that requires you to pay less tax.

Larry E

Your tax man should be able to advise you on that.

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