Thursday, December 31, 2009

Have a spouse with a green card, would like to know if it is better to file separately or jointly?

We are going through some difficulties and will end up divorcing. I want to know if it is of any benefit to me to file my taxes as single or married?Have a spouse with a green card, would like to know if it is better to file separately or jointly?
if you are married, then you only have two choices...MFS or MFJ.





If one of you have a tax debt greater than what your withheld tax is then file separtely. You will lose on some possible credits but at least you wont pay the others tax. and you wont have to deal with other issues.





if you both have a tax refund, then do a joint return because it will increase it, just a little bit. and have your portion deposited into your bank account. the amount going into each account has to be over $1.





but remember you can only file MFS or MFJ, if you are married.





Edit:





Actually you CAN file as HOH. but you have to be considered unmarried. The IRS has 5 conditions you must meet to be considered unmarried. go to www.irs.gov to look them up.





you live and you learn.Have a spouse with a green card, would like to know if it is better to file separately or jointly?
You can't file as single, but you have a choice of a joint return or of filing as married filing separately. If she has any outstanding taxes that aren't paid with the return, then if you file jointly you are responsible for them, but not if you file separately. But assuming everything is in order with tax reporting and payments, filing a joint return will probably result in less tax overall.
If you are going through a divorce, better to file as single to avoid complications later.
Calculate it both ways and see.


Most likely married filing jointly will be the most beneficial to both parties.

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