Married Filing Joint vs Separate: Which One Should You Choose?

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Married Filing Joint vs Separate: Which One Should You Choose?
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Watch this entire video to learn the best filing status for married or soon-to-be married couples.
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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).

Опубликовано:

13 сен 2024

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Комментарии : 48

@keishawilliams8587 Год назад

My husband and I file separate. I find that we get a bigger refund vs us filing jointly

@barbiequeue5353 Год назад

It's backwards for us

@luvleroze123 Год назад

Thank you for the information. I've always received a refund before i got married. Now that I am married and filing jointly for the past 4 years we always end up owing taxes. I plan to file separately this year. Do i just tell my tax person about the change at the time we file or id there anything I need to do or changr before hand?

@johnmorales448 2 года назад

Thanks Krystal! This was very informative and helped me in my decision on how to file!

@batmanbluedarker5087 Год назад

Guys I needed this dam video after years of Asking I finally got the god dam answer . Doing gods work

@Chrisreedbeats 2 года назад

RU-vid Channel of the decade. These videos are rocking! Thank you

@Cris-hk4cn 6 месяцев назад

Thanks, you made this so plan and I understand the information presented.

@ALewLewlove 2 года назад

I am so glad to have found this channel!! ❤️

@LYFEAccounting 2 года назад

Me too!

@Angela-pi6zc 2 года назад

Informative, details, examples, useful...Thank you!

@LYFEAccounting 2 года назад

You are welcome!

@debray7681 2 года назад

I always got more back??? My husband always owed taxes even when he passed and I file joint return taxes where owed

@FinancialFreedomMadeSimple 2 года назад

Thanks Krystal for this very informative video.

@angle5070 2 года назад

Thank you. Very helpful. But I guess I do not know anything about AMT. Would appreciate more on AMT. THANK you

@vernonson66 Год назад

I will be married filing separately because my wife is from the Philippines and she has only been in the US for 7 months. She is currently waiting for her green card and of doesn't have a job yet but she is looking. She just got her driver's license and she has a ssn and a work authorization card. But we wouldn't be able to claim any of the extra benefits at this time anyway so filing separately and married is really the only way I can go. Of course hardly any of these videos like this one takes having a foreign spouse into consideration anyway.

@Mackandal- 2 года назад

Thank you for sharing your info 💕

@adeelghayasuddin9230 2 года назад

Is the 270 days rule still true? Saw an article that said “The U.S. Department of Education has suspended the seizure of tax refunds, Social Security and other government payments to satisfy defaulted student loans until November, the agency said.”

@junaidrasul0823 Год назад

Thank you for the tips

@isaiahpedraza66 9 месяцев назад

Love the share of knowledge.. but man, taxes suck. Hate em.

@isaiahpedraza66 9 месяцев назад

And why is everything based off gross income!? Makes me sick! Taxes takes a chunk off, plus bills n expenses, it’s not the right way to calculate qualifications.

@arthura8840 2 года назад

Great video, I always have to tell my friends who are married but file separately to stop doing it because of the benefits. Thank you guys for the informative video

@almondeyes210 2 года назад

It depends. If your spouse pays child support or any other debt the whole return can be taken.

@arthura8840 2 года назад

@@almondeyes210 that’s true but either way as a couple it is now your debt as one. My wife owes student debt so when we got married it effected my taxes but when I married her I married the debt as well so either she has to pay it off for a very long time or together we pay it off sooner. The debt still has to be paid and together we can pay it off quicker.

@almondeyes210 2 года назад

@@arthura8840 That's your situation though.

@arthura8840 2 года назад

@@almondeyes210 I’m just saying if your married you are now one so it’s both your child support and both your debt. That’s how I see marriage that’s all

@andrina94 2 года назад

@@almondeyes210 So true, mines was taken to pay his back taxes😒

@unprovokedviolence9409 5 месяцев назад

if u file separately you can't use each other's ssn on the individual returns??

@christabelokonta9645 2 года назад

Am a business owner and married is it ok to file married and filling separately for by business

@strongjohn7078 2 года назад

What about I have an LLC and have lot of write off coul I filed separately. Thanks

@HelssonF Год назад

What if my wife is a stay at home mom?

@MagicPiano100 2 года назад

Thank you. I have a question: if you are MFJ one year and elect to apply a refund to the next year, but in the next year you end up being MFS, who is entitled to the refund please?

@jeanpaulkapongodealmeidatr6263 Год назад

I have a question, it's urgent if you can respond to me. I am married and always filing jointly, this year my wife decided to filing separately. how can I do on my side? married filing separately or head of household? 2. if I choose filing like head household, where about my wife? thanks

@reginaoakes6288 2 года назад

Thank you What if one started a business is it best to file together

@sheepseven7588 2 года назад

Can I still claim my home if we file separately?

@demetrius7032 Год назад

Yes

@deyjakyles1345 Год назад

Is a medical collection bill and medical bill different?

@leoleo1680 8 месяцев назад

So I am leaving in the state of the Indiana and for four years I file the tax jointly, but for this year, we decide to file the tax separate can you tell me is that a possible or is a problem if I file the tax separate do I'm gonna have any penalty or problem with IRS if I choose to change for this year to file separate because we find out then we can make more money if we file separate ???????????

@carlosserrano7714 2 года назад

2021 you can claim EICT credit filing mjs

@juicyworkshaw6545 2 года назад

Details please

@viz8746 2 года назад

One of the first lessons we learned in Federal Taxation class in my Accounting Masters: Married Filing Single = MFS = Married Filing Stupid.

@rajutvs 2 года назад

Not always, last year with all the Covid relief, I was able to save taxes by filing separately and putting my kids with my wife's returns. Also, with filing jointly, not only would I have lost those reliefs but also paid extra on AMT (my wife wouldn't fall into AMT herself unless she files with me) So there is no one size fits all.

@sheepseven7588 2 года назад

Married filing jointly guarantees they will get their money it's like being a cosigner for the mob.

@mra.4466 Год назад

If your married to a shady person it can make sense.

@prst23 Год назад

I file joint for last 7 years , my wife is not with helding tax on her part , I always end to paying back even though my tax are with held , what’s the best thing to do ? Thank you