Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

Trending News

Promoted
Vicki
Lv 4
Vicki asked in Business & FinanceTaxesUnited States · 1 decade ago

Is there a benefit to my husband and I filing income taxes seperately?

My husband makes less than 20K/year... I make just under 40K.... we have no dependents or anything. Is there a reason we should (or should not) file seperately?

3 Answers

Relevance
  • Joe
    Lv 4
    1 decade ago
    Favorite Answer

    The IRS does not like it when people do that. When someone does Married Filing Seperately there's a whole list of credits and deductions you can't claim anymore. The only reason you should ever file seperate is if you guys have split up and are just waiting on the divorce.

  • TedEx
    Lv 7
    1 decade ago

    Filing married-seperate subjects you to the highest tax rate that exists, and many deductions are disallowed. If you aren;t convinced, work it out both ways andsee what happens./

  • tro
    Lv 7
    1 decade ago

    is there a reason not to file jointly? from your story I don't see one

Still have questions? Get your answers by asking now.