Introduction

When you’re married, it’s important to consider how you’ll file your taxes. Filing jointly or separately can greatly impact how much you pay in taxes, so it’s important to understand which choice is best for your circumstances.

If you’re married and file jointly, you’ll usually pay more taxes than if you were to file separately. To file separately, though, makes sense in some circumstances.

When filing a tax return as a couple

You have to decide whether you want to file separately or jointly. If you’re married and sharing your financial information with your spouse, then filing jointly is the only option that makes sense.

However, if one spouse has no dependents at all and the other has three children under 17 years old living in their home, they could deduct $12,950. (Joint Filers $25,900, $ Head of Households $19,400.)

Other benefits include lower tax rates on income below this threshold level (25% vs 35%). Still, these benefits don’t appear until after 2025, when they expire anyway, so it won’t affect most people this year unless they have very high incomes above $250K/$200K respectively).

Filing taxes jointly is good for some couples and not for others

Since filing jointly is a good option for some people, it’s important to consider whether or not you and your spouse will benefit from this.

If you both have the same income, then filing jointly will likely save money because it reduces the number of tax brackets.

However, if one spouse earns more than the other and wants to keep their finances private, they can file separately as long as they are still married at the end of the year.

If one spouse has significantly higher medical expenses than the other (for example, if only one spouse has children who are still covered by health insurance), then filing separately could reduce their taxable income since personal exemptions aren’t allowed when filing separately.

In addition to that consideration, couples who live in community property states must pay attention when deciding how they want to file their taxes if both incomes are earned in these states during the marriage. Still, if only one person is responsible for paying them (or a share), that person should be considered “the primary taxpayer.”

If you’re married

It’s important to know that if you’re married, your choice is between filing jointly or separately.

If you’re not divorced (and haven’t been for at least 12 months), then filing together as a married couple is only possible if you choose married filing jointly.

If your marriage is dissolved and final (including same-sex marriage) and both partners agree to file separately, they must do so with the IRS.

If one person is the primary taxpayer, that person should be responsible for paying any tax due.

If both partners contribute equally to their household income, they may be appropriate to pay half of the tax due.

Then you file joint taxes, and both spouses are equally liable for the tax return

If one spouse doesn’t pay the bill or file on time, the other spouse is still liable for additional penalties and interest.

If you and your partner disagree on something about how much money you should be paying in taxes, it’s best to discuss this before filing together so there aren’t any surprises later on when it comes to paying up.

Both spouses are equally responsible for ensuring that their return is accurate and complete which includes providing information about all sources of income (including other sources besides your job) and deductions you’re eligible for, such as student loan interest payments or mortgage interest payments (if applicable).

Both spouses must sign off on every line of each form in the tax return (or at least agree with what’s being reported), so make sure everyone has read through everything carefully before sending it off.

Taxpayers who file separately

If you and your spouse have combined medical and dental expenses, it might be worth filing a joint return.

When filing separately from your spouse, you can only deduct half of each other’s medical or dental expenses. For example:

If you and your spouse have $2,000 in combined medical costs and file separate returns, you could only deduct $1,000 on their returns (50 per cent x $2,000).

If the couple had filed jointly, they would have been able to claim $2,000 on their joint return (100% x $2,000).

Taxpayers who file jointly pay less than if they file separately.

This is because when you file a joint return, and both spouses have earned income, the tax rate is often lower than it would be for each spouse. However, there are some exceptions:

If your combined deductions are more than twice as much as your combined incomes, then filing separately may save you money.

Suppose you have significantly more valuable itemized deductions than your spouse (for example, medical expenses). In that case, filing separately can help you claim those deductions without being offset by your spouse’s standard deduction or personal exemption amount.

This can be especially important if only one person in the household has high medical bills or other itemized deductible expenses; otherwise, those deductions would go unreported if they’re not part of a couple’s shared expenses (such as mortgage interest).

Ask a tax professional to help you figure out which method is best

Consider your situation and the pros and cons of each method. You may decide to file separately if you have high medical expenses that aren’t covered by insurance.

If you’re married and filing jointly, your spouse’s standard deduction or personal exemption amount will offset these expenses.

When you file separately, they can be claimed without offsetting someone else’s deductions.

Ask a tax professional to help you determine the best method for your situation.

Conclusion

This is a tough decision, and it’s not one that you should make lightly. If you have any inquiries regarding your tax situation and how best to file jointly or separately, contact a professional to help with your situation.