Tag Archives: married filing jointly

When you file your tax return, ensuring you used the right filing status can make a big difference to your wallet. Depending on which status you use, you’ll be eligible for different credits and deductions, and how much of them you are entitled to. There are five filing statuses, and each one affects your tax […]

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General Filing

Newly Wedded at Tax Time

March 16, 2016

The wedding bells have rung, the rings exchanged, and now its tax season. So what exactly does that mean for you, a recently married taxpayer? First, you need to know how to file your return. You can use either married filing separately or married filing jointly, the latter which generally provides the lowest tax rate. […]

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Filing Status

The Low Down on Filing Statuses

February 11, 2016

There are five different filing statuses which you can use when completing your tax return. Each status qualifies you for different deductions and credits, so choosing the correct one is extremely important. Single Taxpayers who are unmarried, or considered unmarried for the entirety of the tax year are eligible to file under the single status. […]

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At tax time, any different thresholds and credit eligibilities are dependent upon your specific relationship status. If you’re a newlywed, here’s what changes you should expect when you file your tax return. Filing Status Once you tie the knot before December 31st of the tax year, you file your taxes either jointly or separately as […]

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Filing Status

The Five Filing Statuses

March 4, 2015

How you file your taxes is typically determined by your marital status at the end of the year, and whether or not you have dependents who rely on you to provide housing. There are five separate statuses that you can use to file a tax return: single, married filing jointly, married filing separately, head of […]

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Married couples may find it easier to file one single joint tax return, especially if one spouse is responsible for a majority of the couple’s income. In cases where both spouses earn income, the option to file separately may be more beneficial in regards to providing a lower tax liability. However, couples should always figure […]

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There are five different filing statuses that you can use when completing your tax return. The requirements are different for each, and your ability to claim certain deductions changes with each one, so you need to examine each option carefully.

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Not only can using the right filing status affect how much you owe, but it can also affect which credits you are eligible to receive. In fact, the filing status you choose can even determine whether you have to file a tax return at all. For IRS purposes, anyone who is married on or before […]

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Filing Status

Choosing the Right Filing Status

November 20, 2014

The benefits available to you at tax time, as well as tax rates and deduction amounts are dependent upon the filing status you choose. Your filing status is determined by your marital situation on the final day of the year, and whether or not you have any dependents.

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