Tax Filing Separately
Question: How much worse off are Filing Taxes Separately when married?
My bf and I are probably going to get married this year, but all his bills, support, etc are done through his business. I prefer to do my own taxes and would rather not have my stuff done through the business.
So what kind of penalties would I face should I choose to file separately next year ?
Would I have to do anything “special” this year to prepare for a change in filing status?
**Just like to be prepared
**
Answer: it depends on your situation and income. If you file separately you lose the earned income deduction and a few others as well. If you are in a community property state and you file separately you must add together both your incomes and divide by 2 to get your income for taxes.
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