Wednesday, December 14, 2011

Whats the difference in married filing jointly and married filing separately?

about 12.5% more taxes for filing separately rather than jointly but sometimes, depending on your situation, it can be cheaper depending on whether you are trying to maximize your refund, minimize your tax payment or just trying to limit the higher tax rates for those who make well over 6 figures. Traditionally the single filer gets screwed. I would work it both ways and see.

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