Taxes: When is it better to file separately?

[J. Z. Guest]

I believe that my wife made just enough money to bump us into another tax bracket this year.

Are we a case where it would be better to file separately?

[Peter Quadarella]

AFAIK, the only time you would want to file Married filing Seperately is if your finances are seperate. In almost all cases it is better to file jointly.

My wife and I made the same money for a few years and I tried it both ways and jointly was definitely better. I am not an accountant - you could always work it out seperately to double check.

[Tom Veatch]

Filing separately rarely results in a lower total tax liability. But the only way to know for sure is like Peter suggested. Figure it both ways and file whichever way is best in your specific case.

[Jim Becker]

Also be aware that filing separately greatly complicates the deduction situation...

[J. Z. Guest]

Thanks for the tips fellas. You were all right on the money.

I don't know why I was so panicky. I worked it out both wasy (eventually) and I owed $2000 more by filing separately.