Have a Tax Question? Ask a Tax Expert
Unfortunately - there is no choice...If because of his business loss your income is too low to qualify for mortgage - you may not afford to purchase that home.Fo - the first step to pre-qualify for the mortgage based on your current income - considering both - W2 wages and business loss - and you will know the maximum amount of purchase price you may go.
you may file separately - that is your choice - and you are correct - most likely - your combined tax liability will be higher - that is because business losses would not offset your wages and some deductions and credits would not be available with that filing status. Also tax rates are lower for those filing separately compare to filing jointly.You may however later amend your tax return and change your filing status to MFJ - married filing jointly. As that change will result additional refund - you would have three years to claim such refund.
Please be aware that experts do not have access your your account.So all question regarding charges - please direct to the customer service.I personally simply do not know anything about your charges.