If you are married and deciding whether it's beneficial to file a joint tax return with your spouse, there are certainly issues you should consider first. Watch this video to learn more about how you should file as a married couple.
- Essentially this means that often more of your income can be taxed at lower rates, resulting in a lower tax bill than you’d get by filing separately.
- And the larger the difference in income between spouses, the more tax you might be able to save by filing jointly.
- For example, suppose you earned $50,000 last year and your spouse earned $100,000.
- Although you only earned a third of the income, you would be responsible for taxes on the entire $150,000 if your spouse owes taxes or is unable to pay.
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