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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
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Experience:  10 years experience
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I am trying to figure out if I should file joint or separate

Customer Question

hello! I am trying to figure out if I should file joint or separate next year. i was just married last month and I'm not sure what the better option would be.
JA: The accountant will know how to help. Please tell me more, so we can help you best.
Customer: i make 80k/year plus about 30k commission, my husband makes about 150/year plus 25k bonus. what other info would be helpful to know in making the decision?
JA: Is there anything else important you think the accountant should know?
Customer: we are expecting a child next spring. i own a home in Oregon and he owns a home in North Carolina
Submitted: 29 days ago.
Category: Tax
Expert:  emc011075 replied 29 days ago.

Hi. My name is ***** ***** I will be happy to help you.

At your income level filing jointly or separately will probably not make much difference assuming both of you had sufficient withholding. Married filing separate limits certain credits but in your tax bracket you would not be eligible it anyway. You may actually benefit by filing separate if both of you own homes and can itemize your deductions. If you do not have any dependents and want to keep your financial affairs separate filing separate will not result in much higher taxes.

If your return is simple (no special situations like sale of stock, business income and such), use one of the online calculators like this one http://www.tax-rates.org/income-tax-calculator/?ref=nav_income to run a quick estimate for both situations: filing jointly and separately.

Expert:  emc011075 replied 29 days ago.

I see you read my respond. Do you have any questions? Is there anything else I can help you with today?

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