Pros & Cons of Filing Taxes Jointly as a Married Couple
Created by Steve on 02/06/2010
Just because your are married does not mean you have to or should file your tax returns together. There are two tax filling options for married couples: married filing separately or married filing jointly.
1. It’s easier because it means filing one tax return instead of two
2. You almost always have a lower tax rate
3. You are eligible for extra credits, such as those for education and dependent care expenses
4. A non-working spouse can contribute to an IRA
1. if one spouse has significant medical expenses, casualty losses or miscellaneous deductions that exceed 2% of the AGI you get more of a discount if you file separately
2. you can be held liable for your spouse's tax debts
Balanced results
calculates based on both emotional weights, rational weights and user opinions
Emotional results
calculates based only on emotional weights, and user opinions
Rational results
calculates based only on rational weights, and user opinions
