Sunday, August 22, 2010

My spouse and I filed our taxes jointly last year. This year we want to file singly. Is that a problem?

We only filed jointly one year, the first year we were married. But we keep all of our finances separate, and would prefer to file individually this year. Is there anything preventing us from doing this? Thanks!My spouse and I filed our taxes jointly last year. This year we want to file singly. Is that a problem?
You cannot file as Single, but you can file as Married Filing Separately. Keep in mind, however, that filing Married Filing Separately, you will not qualify for certain credits or deductions that you may if you file Jointly. It's always best to do the math for both situations and decide which route is best for you.My spouse and I filed our taxes jointly last year. This year we want to file singly. Is that a problem?
Nothing preventing you from filing seperately. However, it is the worse way you can file if you are married. you lose a lot on your deductions $ and credit $. Consult any competant tax advise before you file and they will explain the problems in detail.





If at all possible, file jointly, and determine before you file which spouse get which % of the refund. This is the best alternative.
You can file as married filing jointly (MFJ) or married filing separately. In most cases, it is better to file as MFJ. Read http://taxipay.blogspot.com/2008/02/fili鈥?/a>
You can't file as single. You can file as ';married filing separately';, but it's going to cost you a lot more than you'd have to pay if you were filing jointly.
You can file married filing separately if you want to do so. Be aware it is the worst filing status possible.





Helen, EA in PA
You can file married separate. It is a higher tax rate and you lose tax deductions. Good luck.
No problem if you both want to file as married filing separately. Be aware though that it will cost more tax total for the two of you.

No comments:

Post a Comment