We have no children, but are expecting in July. Should we file jointly? Married but seperately? Ect...My wife and I were married this past July. What is the best way to file our taxes?
A joint return is best 95% of the time. Most tax software will do it both ways to be sure.My wife and I were married this past July. What is the best way to file our taxes?
you should file separately
This depends on your respective incomes. Probably a joint return is better, but you should figure it both ways to be sure.
Only in extremely rare instances does it result in lower taxes to file separately versus jointly. You can prepare your taxes both ways and then choose the one the one with the lowest tax liability.
In almost all cases you'll pay the lowest tax by filing jointly.
Since you were married on 12/31/06, you cannot file Single any more. It must be Married Filing Jointly or Married Filing Separately. There is no ';etc.';
Joint
With no children, those are your only two options (Married Jointly or Married Separate). Married Joint typically produces the lowest tax bill. However, there may be other reasons why you may elect to file separately. As part of my practice, I always analyze the returns both ways. If you want professional assistance, please contact me via my website http://www.slarson.com/contact or email me directly at Steve@SLarson.com
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