(Closed) Taxes: filing jointly or separate?

posted 7 years ago in Money
Post # 3
Member
274 posts
Helper bee
  • Wedding: October 2011

Work the figures both ways and see which return is best!!

Post # 4
Member
3314 posts
Sugar bee
  • Wedding: October 2010

Yeah I’m not sure what we’ll be doing this year.  It would seem that filing jointly would be the right thing for us, but because of immigration stuff, I am probably going to hire a tax person to help us with our taxes this year.  lol I looked at everything and my head it kinda spinning!  Usually it’s pretty easy for me… but this year everything’s different.

Post # 5
Member
1940 posts
Buzzing bee
  • Wedding: July 2010

I used TurboTax online and determined it was best for us to file jointly.  If you take some credits, such as Educational ones, I belive you have to fine jointly to be eligible.

Post # 6
Member
281 posts
Helper bee
  • Wedding: September 2010

We learned that if you file married, filing separately you can’t deduct your student loan interest.  Just an FYI.

Post # 7
Member
3871 posts
Honey bee
  • Wedding: November 1999

I heard that if one of you make significantly more than the other, that you should file separately… or something about being put into another tax bracket.  Yeah, just go to your tax software and you can try both.

I have no tax expertise, though… actually taxes confuse me, just like 401K do, too.  haha, yeah I like using the tax software!

Post # 8
Member
5921 posts
Bee Keeper
  • Wedding: December 2010

We played around and estimated for both, and we get WAY more back if we file jointly.

Post # 9
Member
4480 posts
Honey bee
  • Wedding: March 2010 - Calamigos Ranch

Most couples do better filing jointly, but the only way to know for sure is to calculate both ways and see which way you come out better. I know a few people who are filing separately because they are doing IBR on their student loans and the other spouse earns too much (but that means neither of them can deduct their student loan interest).

Post # 10
Member
2390 posts
Buzzing bee
  • Wedding: December 2009

I have heard that unless there is a huge discrepancy between incomes, it’s always best to file jointly.  When my DH was employed, I made about $45k more than him.  Even with that, it still worked out better for us to file jointly.

Post # 11
Member
511 posts
Busy bee
  • Wedding: January 2010

I filed Married Filing Separetely once and wasnt able to deduct my student loan interest which was the difference of paying versus getting a refund.

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