How do I know if my husband and I should file jointly or not?

If both spouses have income, does it make more sense to file jointly or separately? How can I find out?How do I know if my husband and I should file jointly or not?
There are situations when filing separately makes sense. But generally, filing jointly usually results in the lowest overall tax liability.





It makes sense to file separately when:





* You are unofficially separated and don't want or cannot share financial information.


* You think your spouse in cheating on taxes.


* You are cheating on your taxes.


* One person owes a lot, but you would have a refund.


* One person has tax troubles (back taxes, tax debts, payroll problems).


* You just don't trust each other.





That being said, filing separately requires sharing complete and total details about taxes with each other. So if you are NOT good at sharing financial information, get divorced so each of you can file as single people. (I call this getting a tax divorce... it happens more often than you think.)





William Perez


taxes.about.comHow do I know if my husband and I should file jointly or not?
Generally, filing joint is the best route, but yes, do compare. Keep in mind if you itemize your deductions instead of taking the standard deduction, your HUSBAND must itemize as well if you are filing separate.
it is usually better to file together. you get more exemptions and deductions that way. but every case is different. what you do is go together and do yours seperate and together to see what is better. i know here at h and r block we have our married filing joint versus single or married filing seperate calculator.
Pick up a copy of Tax Cut software. It is very easy to use and it will allow you to run the numbers both ways and compare.
fill out tax forms for each of you separately and then one together. figure out whichever one gives you the best deal