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What's the easiest way to decide whether to file joint or separate tax returns as a married couple?

My wife makes $70,000 a year and I make $10,000. I'm especially concerned about the ACA Penalty/Benefit.

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  Answers  |  1

February 05, 2018

When we prepare tax returns for couples, we routinely check to determine whether married filing jointly or separately is more beneficial. The process is to calculate the tax and, hopefully, the refund, using the married filing jointly rates. Then, we split the returns into two using the married filing separately rates. Whichever generates the higher refund wins.

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