Filing Taxes Jointly or Separately When Married - Which is Best?
Victor Delerme
CEO, Delerme CPA | Act 60 Services | Assisting Investors and Business Owners Incorporating in Puerto Rico to Maximize Profits Through Tax Incentives
When tax season's here, and if you're married, you've got a choice to make: file jointly or separately. This decision can impact your tax bill and potential refunds big time. Here’s a quick guide to help you decide.
Married Filing Jointly (MFJ)
Married Filing Separately (MFS)
Why File Jointly?
Why File Separately?
Downsides of Filing Separately
When to File Separately
Conclusion
Deciding to file jointly or separately is crucial. While joint filing usually offers more benefits, there are times when separate filing makes sense. Review your situation, consult a tax pro, and make the best choice for your family.