Friday, January 15, 2010

Whats the difference between filing married jointly or seperately?

My husband and I just got married in October and we are gearing up for the tax season right now and we are just wondering what the difference is between filing married jointly or married seperately...Whats the difference between filing married jointly or seperately?
it just means you claim your taxes by yourself and he does the same just means more paper work at the tax officeWhats the difference between filing married jointly or seperately?
If you're married, you can file jointly or separately. There are tax advantages and disadvantages to both -- it all depends on your income level. For most people, it's better to file married filing jointly because you'll get a bigger return than you would if you filed separately, even if you combined your respective tax returns. That's not a hard-and-fast rule though. If you or your husband (or both) make(s) over $80,000.00 a year, you should check with a CPA or a tax advisor to see if filing separately would be better for you.

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