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For most couples (not all) the better thing to do is file jointly. If you file seperately and one itemizes, the other HAS to itemize whether or not they have enough deductions. And that means if you only have $1,000 in deductions, you can't take the standard deduction.
However, there are several free tax calculators online that will let you estimate each situation and figure out the best one for you.
The rate for married filing seperately is higher than married filing jointly. Also, the exemptions will be lower on married filing seperately. I definetly recommend jointly. Usually the only people who file seperately are people who are seperated or can't find their spouse to file.
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With tax season upon us I was hoping some of the ladies out there might be able to shed a little light on the tax situation.
Does it make more sense to file jointly or seperately? I am sure this depends on the amount the couple makes, but any insight would be appreciated.