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One of the first questions asked when preparing a tax return is how to file: married filing jointly, or married filing separately? The way the tax code is written, married filing jointly usually results in a lower tax bill than if filed married filing separate. For this reason, the IRS generally advises spouses to file jointly. While a vast majority of couples file jointly, there may be instances...
Using the correct filing status is very important when you file your tax return. You need to use the right status because it affects how much you pay in taxes. It may even affect whether you must file a tax return. When choosing a filing status, keep in mind that your marital status on Dec. 31 is your status for the whole year. If more than one filing status applies to you, choose the one that...
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