[Misky1951]

New wife (married in 2024) and I will be going to Villages Tax Aide for our tax preparation. From my research, it appears filing jointly is the best method. Since this is both our first time filing jointly, should we do both a joint return and individual returns to see what method gives us the lowest tax liability? Is so, will they do both for us ?

[Bill14564]

Originally Posted by Misky1951

New wife (married in 2024) and I will be going to Villages Tax Aide for our tax preparation. From my research, it appears filing jointly is the best method. Since this is both our first time filing jointly, should we do both a joint return and individual returns to see what method gives us the lowest tax liability? Is so, will they do both for us ?

We've been married much longer than that but at times have wondered about filing status. You might try what we did and purchase one of the tax preparation packages and fill it out both ways. It takes a little time but it will give you a good idea about which items make a difference.

We found that filing jointly makes more sense for us. Our situation is we both have similar incomes, our investments are in both our names, and neither of us have enough deductions to itemize.

[Haggar]

Originally Posted by Misky1951

New wife (married in 2024) and I will be going to Villages Tax Aide for our tax preparation. From my research, it appears filing jointly is the best method. Since this is both our first time filing jointly, should we do both a joint return and individual returns to see what method gives us the lowest tax liability? Is so, will they do both for us ?

That's a good question - and a step I do for my clients. The individual items - 1099's, W-2s, capital gains need to tagged as taxpayer or spouse. There is a option/ form you then elect to split the items and see if a tax advantage is gained by filing jointly or separately. Very rarely is there a benefit to filing separately, Some items are lost - such as a child care credit - when separate returns are filing.

Some married couples file separately because the spouse doesn't want any liability if their significant other may haves underreported income or not reported income at all.

Some file separately because they don't want their spouse to know their income!

[Stu from NYC]

No matter who does your taxes have them done both ways, especially as this is the first year you are together

[mtdjed]

Originally Posted by Stu from NYC

No matter who does your taxes have them done both ways, especially as this is the first year you are together

That would be my first question to the Tax aid person. That is why you go to such services.

[LuvtheVillages]

Originally Posted by Misky1951

New wife (married in 2024) and I will be going to Villages Tax Aide for our tax preparation. From my research, it appears filing jointly is the best method. Since this is both our first time filing jointly, should we do both a joint return and individual returns to see what method gives us the lowest tax liability? Is so, will they do both for us ?

Since you are married, you do NOT have the choice to file as individuals. Your choices are to file a joint return, or to file "married filing separately." Very rarely does married filing separately work, because it mandates loss of some credits and different tax rates. Check it out to be sure, but you will likely find that joint filing works best.

[westernrider75]

Originally Posted by Misky1951

New wife (married in 2024) and I will be going to Villages Tax Aide for our tax preparation. From my research, it appears filing jointly is the best method. Since this is both our first time filing jointly, should we do both a joint return and individual returns to see what method gives us the lowest tax liability? Is so, will they do both for us ?

You could try one of the free options to do it online and compare which is better. It will tell you part way through if you are filing in the most beneficial way for you. You do not have to complete it, just delete all the info.

[MikeN]

Ask your tax preparer but filing jointly has always been best

[ndf888]

Buy TurboTax and try it yourself. It’s not that complicated.

[rsmurano]

I’ve been using turbo tax for over 25 years. I did let an outsider do my taxes during 1 complicated year and she verified what I was doing using turbo tax was correct. I run multiple scenarios before April 15th but I also run multiple what-if scenarios before the end of the year on selling some of my portfolio to replenish my cash bucket without any tax burden.

[JoelJohnson]

Go to DINKYTOWN.NET (I know it sounds odd) and click on Tax Calculators and then 1040 Tax Calculator. Very easy to use.

[daca55]

Now that you’re married you really only have two options. Either file a married joint return or married and filing separate. The IRS does not like it when married people file separate and if you do file this way you do not get the same benefits that you would if you filed a married and joint return. You cannot file single now that you are married. Your best option is to file a married joint return.

[SHIBUMI]

If a women goes to prison for 1 year and then gets out can/should she still file
a tax return . No income........can she claim Child care Tax Credits, etc....thanks

Originally Posted by Haggar

That's a good question - and a step I do for my clients. The individual items - 1099's, W-2s, capital gains need to tagged as taxpayer or spouse. There is a option/ form you then elect to split the items and see if a tax advantage is gained by filing jointly or separately. Very rarely is there a benefit to filing separately, Some items are lost - such as a child care credit - when separate returns are filing.

Some married couples file separately because the spouse doesn't want any liability if their significant other may haves underreported income or not reported income at all.

Some file separately because they don't want their spouse to know their income!

[Villagesgal]

We always file married filing separately with both paying less this way. Taxaide will do it both ways for you to see which works out best, but they don't like to, you have to insist. Every year they tell us it's best to file married filing jointly, we tell them in our case no it isn't, they then do it married filing separately and always seem to be surprised that we are right.
So yes if you insist, they will do both ways and let you know.

[retiredguy123]

Originally Posted by Villagesgal

We always file married filing separately with both paying less this way. Taxaide will do it both ways for you to see which works out best, but they don't like to, you have to insist. Every year they tell us it's best to file married filing jointly, we tell them in our case no it isn't, they then do it married filing separately and always seem to be surprised that we are right.
So yes if you insist, they will do both ways and let you know.

I wouldn't use a tax service that didn't determine the best way to file, even if they are free. That's their job.