Is anyone going to file married but separate? what are the advantages?
suven
Posted:
Member since
Is anyone going to file married but separate? what are the advantages?
And, what's the deal with the tuition credit? I was just reading that if you file married but separate, you can't deduct the tuition credit. DH finished his Master's RIGHT BEFORE the wedding, so can he still use it? What if we do file married...then can he deduct it?
We need a CPA!!!
shamrock12472
Posted:
Member since
Re: Is anyone going to file married but separate? what are the advantages?
If you file Married, single, you both have to use either itemized deductions or the standard deduction - you can use one and he use the other. They also cut out some deducutions with you file married, single.
pbandtim
Posted:
Member since
Re: Is anyone going to file married but separate? what are the advantages?
I think if you file married seperate, you both have to either itemize or take the standard deduction. I'm not sure why he wouldn't be able to take the tuition credit if he got married. Why are you not filing married joint?
SeptemberBride03
Posted:
Member since
Re: Is anyone going to file married but separate? what are the advantages?
I'm not sure of the answer. But, we filed married joint last year and got a rebate b/c we deducted DH's tuition expenses. We are doing that again this year - his MBA program is ridiculously expensive!!
charlotte227
Posted:
Member since
Re: Is anyone going to file married but separate? what are the advantages?
The biggest difference in filing your taxes
if you file married - you are both equally responsible and liable for any taxes owed to the govt
if you file married but seperate - you each are only responsible for your own taxes you are not liable for each others taxes
you can change your filing status each tax year
as for the deductions depends on how much you expect to recceive on your return
**when in doubt call the IRS or NYS Tax**
Sweetd
Posted:
Member since
Re: Is anyone going to file married but separate? what are the advantages?
Someone in Human Resource at the company I work at told me file as Single- 1 (I asked if it was legal to file as Single and it is, so that is what I did). We filed together and we got a lot more back then we would have sepeartly.
