Thursday, January 21, 2010

What is the best way to file taxes for a married couple? Jointly or married and filing separately?

We both work and we have no dependents.We have used Turbo Tax for two years and we seem to get much better results filing separately. Shouldn't it be pretty much the same either way?What is the best way to file taxes for a married couple? Jointly or married and filing separately?
If you're getting much better results calculating as married filing separately, then something isn't right unless you're itemizing and one of you has huge medical expenses. Are you sure that you are putting in ';married filing separately'; and not ';single';? And you do know that if one of you itemizes when you're filing separately, you both have to? And that you can't get an Earned Income Credit if you're married filing separately?





It's not at all unusual to come out close to the same between joint and filing separately, usually with joint a few dollars better but real close. That would probably be the case with both of you working and no dependents, if you make more or less the same amount.





Sounds like something you're doing isn't right, or it wouldn't come out that way.What is the best way to file taxes for a married couple? Jointly or married and filing separately?
Generally, a joint return will give you the bigger refund.
It depends on many factors, but usually filing joint is the best way. The best way to figure out what is more beneficial for you is to do it both ways and file the one that gives you more back in taxes.
typically married, but, that depends on if you have kids, etc. try it both ways and do what gets you more!!!

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