Tuesday, August 24, 2010

Filing married but seperately this year, would we be able to file jointly in the future?

me and my husband have been filing our taxes jointly for 4 yrs now. this yr looks like will be getting more of a refund if we file seperately. will this affect us in any way later on?


would we be able to file jointly next yr if we decide to again?


both of our W2 are pretty basic, no dependents to claim, no additional form, deductions, or exclusions. just reporting our Income....Filing married but seperately this year, would we be able to file jointly in the future?
you should be getting a bigger refund by filing jointly - you better have someone double check your returns - are you checking the correct column on the tax tables? - you can't use the married joint column- Married separate taxes income a higher level than joint - I've never heard of anyone getting a bigger refund by filing separately - especially if they are basic returns - doesn't make sense - You can't file as single, you realize that - if you're married - married sep or marr-joint are your only 2 options.


in answer to your second question you can switch back and forth whenever you want, but there is no benefit to filing separatelyFiling married but seperately this year, would we be able to file jointly in the future?
I find it very strange that your would fair better as MFS rather than MFJ. MFJ is the best (lowest) tax rate. As MFS, both are similar to filing Single, and as MFS you forfeit any claim to some of the credits that are beneficial.





But if you still file MFS, you can switch to MFJ next year or any other year.
No, each tax year stands on its own. You can switch back and forth from one year to the next, whatever works out best for you.





Do check both of your returns carefully, though! It's unusual though not impossible for you to pay less tax on separate returns. But if it works out better for you that way then by all means do so.
It depends on what state you are in if you are doing it correctly. If you are in a community property state you must add together both your incomes and divide by 2 to get your total wages. In this case, filing separately doesnt usually make sense.

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