Your decision to file jointly vs. separately can have significant tax implications.
This conversation can happen at any point in a marriage – newly wed couples frequently ask this question during their first year of tax preparation. Couples in increasingly larger tax brackets are also quite affected. Below are some discussion points.
- What are situations that may cause us to overpay tax when filing jointly?
- How can I compute which strategy is best for me?
- Do we increase our tax bracket when filing jointly?
- Do we lose any deductions using one version of our returns vs. another?
- My spouse is on an income-based repayment plan. How will this affect our returns?
- My spouse owns properties or assets outside of the US. Am I also responsible for reporting?
- Can you help me make the joint vs. separate decision numerically?
- Do you offer consulting on the topic?
We specialize in assisting couples plan for their tax & making the joint vs. separate filing decision and are happy to guide on the nuances described above.
