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Message
Married filing jointly vs. seperately
Posted on 12/15/17 at 5:31 am
Posted on 12/15/17 at 5:31 am
I've been married for 9 years and have always done our taxes jointly but yesterday a co-worker said that we would save money by filing seperatley. Is this true?
8
Posted on 12/15/17 at 7:01 am to CajunLife
Absolutely. Especially with all of the information provided.
Posted on 12/15/17 at 7:35 am to CajunLife
Almost 0% of the time, but there's no way for anyone to tell you for sure without more info
Posted on 12/15/17 at 7:46 am to CajunLife
It's not applicable to everyone. Some people do make out better by filing separate. That's why it exists. Nobody on a message board is going to give you the write answer. Go see a CPA/Tax guy.
Posted on 12/15/17 at 8:14 am to CajunLife
My CPA told me we don’t have sex enough to qualify for filing jointly.
Posted on 12/15/17 at 8:20 am to CajunLife
Filing seperately will rarely result in tax savings, and it's a bit tricky to switch filing statuses year to year.
The one thing that needs to be true is if you are both high income
The one thing that needs to be true is if you are both high income
Posted on 12/15/17 at 9:23 am to CajunLife
As others have said, it rarely works that way. the ONLY way to know for sure is to prepare your returns using both methods and filing whichever on results in the higher returns.
Keep in mind, if one spouse itemizes, the other spouse is required to itemize. This rule is what typically eliminates filing separately from being advantageous
Keep in mind, if one spouse itemizes, the other spouse is required to itemize. This rule is what typically eliminates filing separately from being advantageous
Posted on 12/15/17 at 9:36 am to Weekend Warrior79
quote:
Keep in mind, if one spouse itemizes, the other spouse is required to itemize. This rule is what typically eliminates filing separately from being advantageous
Yeah, and you cannot double dip and take the same itemized deductions.
Posted on 12/15/17 at 9:42 am to CajunLife
quote:
I've been married for 9 years and have always done our taxes jointly but yesterday a co-worker said that we would save money by filing seperatley. Is this true?
Is your co worker a CPA? Don’t take tax advice from him if he’s not.
Posted on 12/15/17 at 10:25 am to ODP
Sounds like I just need to talk to an accountant. I appreciate all of your responses!
Posted on 12/15/17 at 5:56 pm to CajunLife
I'd bet your coworker is full of it unless as said you guys are both high income earners, as in both over $180,000 I think or around there.
Posted on 12/15/17 at 9:17 pm to CajunLife
quote:
Sounds like I just need to talk to an accountant. I appreciate all of your responses!
If you are doing it yourself why not just run it through whatever software you are using both ways, or if using paper forms just do it twice, and see how it comes out, much cheaper.
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