Post # 1
Good morning bees! Tax time is upon us, in the States, and I must admit that it is a little confusing for my husband and I this year; he says we are to file as married (we are not sure if we are filing as married filing single or married filing jointly if that ends up as the right option) but I believe that since we wed after the end of the fiscal year, we file as single for fy12, and then next year file married. What is the right answer? Any and all tax filing related answers are very welcome. Thanks!
Post # 3
If you got married in 2012, I believe you can file as married. You can always sign up for a free tax program and play with the numbers to see if filing jointly or single is a better option. You can always call a local tax office to get more opinions.
Post # 4
Hi there – simple answer: Your marital status on the last day of the year determines your marital status for the entire year. So its all or nothing. Whether you were married on Jan 1 or Dec 31 – you were married in 2012.
Post # 5
If you were married on Dec 31, 2012 you file as married.
Post # 6
I’m not sure what you mean by post-fiscal year. the fiscal year ends on December 31 for individuals.
Post # 7
If you were legally married in 2012, then you file as MFJ.
Post # 8
If you were married anytime in 2012 then you must file married.
You can file married seperately or married jointly. For most people, there are more tax benefits when you file jointly.
Post # 9
To the IRS if you marry anytime during the calendar year then you are tax status married for that year. So even if you marry on Dec 31 you need to file married for that year.
Married filing jointly is the most common and is adventageous for most people. Married filing separately does have benefits for a certain part of the population, though.
Here’s an article about why some might file separately: http://www.smartmoney.com/taxes/income/married-but-filing-separately-15597/
Also be aware filing separately also imposes a great reduction in income limits for Roth contributions. It also removes or reduces a lot of the available deductions (education credit, student loan interest credit, capital loss deductions, etc)
Most people will find filing jointly is better for them.
Post # 10
@Natalieh86: sorry about the confusion, my husband and I are both federally employed, so I’m used to everything running off the fiscal year ending September 30th, but you are right its Dec. 31 for individuals. Thanks for all of the help bees!
Post # 11
@NaijaPuertoDorian: LOL, that explains your confusion! To us civilians, 9/30 doesn’t mean anything.
You can file married separately, or married jointly.
Post # 12
Oops! I meant to vote for married filing jointly, but accidentally clicked married filing separately.