(Closed) What are the benfits of filing jointly or seperate with your spouse???

posted 7 years ago in Legal
  • poll: You should File
    together you are married now : (20 votes)
    74 %
    seperately : (4 votes)
    15 %
    it doesn't really matter how you file : (3 votes)
    11 %
  • Post # 18
    Member
    6117 posts
    Bee Keeper
    • Wedding: August 2012

    @MrsWBS:  My dad was very shady when filing!  And he’s sign my mom’s name so she never knew what was going on!  They owed a lot of backtaxes.

     

    In that case separate is the way to go, you are right.

    Post # 19
    Member
    10649 posts
    Sugar Beekeeper
    • Wedding: January 2011

    Separately, as it isn’t legal to file jointly here 🙂

    When we first declared ourselves as a common-law couple, we lost out though, as I had to pay back my GST rebate.

    Post # 20
    Member
    11744 posts
    Sugar Beekeeper
    • Wedding: November 1999

    @sienna76:  oh how awful!

    I live in my magical newly engaged world of bliss where “I’d never marry someone that was a shady filer!”  😉  I don’t trust either of us to do it and do it right, hence getting an accountant! 

    Post # 22
    Member
    6117 posts
    Bee Keeper
    • Wedding: August 2012

    @June232012: It looks like you’ll have to itemize as well, but you cannot itemize the same things (aka if you guys shared a house, only one of you can claim its interest for example).

    4. Married Filing Separately When a married couple files separate returns and one spouse itemizes deductions, the other spouse cannot claim the standard deduction and therefore must itemize to claim their allowable deductions.

    http://www.irs.gov/uac/Six-Facts-about-Choosing-the-Standard-or-Itemized-Deductions

     

    Without HIS accountand knowing your situation, maybe it’s best to run it both ways through a tax program or have his accountant do yours too.

    Post # 23
    Member
    4943 posts
    Honey bee
    • Wedding: July 2012

    I’ve always filed jointly and it sucked because my ex husband was self-employed. Once we separated and he moved to a different city, I filed married by single and got a shit-ton of money back. 🙂 He had the audacity to get pissed because I was claiming the house on the taxes. Well, douchebag, you moved to another city where your little girlfriend lived, and I was at home PAYING for said house. Idiot.

    Now, my husband and I will file jointly.

    Post # 24
    Member
    390 posts
    Helper bee
    • Wedding: September 2012

    @MrsWBS That’s a really good question.  I would probably sit down a talk to a CPA (other than me because I don’t know your situation).  It becomes more complicated when you have more than one residence.  I still stand by my original statement that usually it is better to file jointly, but I’d advise you to run both scenerios because this is a different situation.

    @June232012 I don’t know your situation or who your DH’s accountant is, but by married filing separately many of the deductions your husband took in the past as a single person will be cut in half (because it is assumed that you will take the other half of the deduction).  He may not get back as much as he thinks.  Again I don’t know your situation so your DH’s accountant may well be correct.  I would again advise anyone who got married this year to run both scenerios.

    Post # 25
    Member
    390 posts
    Helper bee
    • Wedding: September 2012

    @June232012 yes you should be able to deduct your student loan interest, that is an above the line deduction so it doesn’t matter if you personally itemize or not.

    Post # 26
    Member
    18628 posts
    Honey Beekeeper
    • Wedding: June 2009

    For most couples, there is no benefit to filing seperately and it actually hurts you.

    OP, as others have said, you should go to an accountant with your husband and have them run your numbers both ways once you have received all your back up information.  Right now it is all guessing in the dark if you don’t have your official documentation back yet.

    @mnp:  Just because you live in different states, does not mean you have to file seperate tax returns for federal taxes.  You will have to file seperate state tax returns for the states that you live in though.  I would suggest talking to a CPA about your situation.  The people at H&R Block or Jackson Hewitt don’t always have the necessary training and the person preparing your return might not have any certification.

    Post # 27
    Member
    2424 posts
    Buzzing bee
    • Wedding: May 2012

    We are filing jointly, I have only heard from others that it hurts you file file separately, for the reasons PP have mentioned. If you have a house together, that is a major joint asset that you both want to have as a deduction, so that would be enough to push me to file jointly.

    The topic ‘What are the benfits of filing jointly or seperate with your spouse???’ is closed to new replies.

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