What are the benefits to filing taxes jointly or separately for married couples?

My husband and I are new to filing taxes and we are curious what the benefits are to our filing jointly or separately. He is currently a full time student and in September I will be enrolling in classes again. We do not have any dependents or a mortgage. Nor any substantial assets.What are the benefits to filing taxes jointly or separately for married couples?
You will pay less taxes filing jointly than separately USUALLY. But with todays programs for a simple return try it both ways and see. It does occasionally work better filing MFS.What are the benefits to filing taxes jointly or separately for married couples?
There are certain credits and deductions you are not allowed if you are married filing separately. One of these are education credits or deduction. This could make filing jointly more beneficial in your case.


Also depending which state you live in one way or the other could be better.





A good tax advisor could calculate it both ways and let you know which is best.





Laura H 鈥?H%26amp;R Block 鈥?Senior Tax Advisor 5


**This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided.
If you file for the Earned Income Tax Credit (EITC) it requires you to file jointly if you're married.





The EITC is a tax credit for people making under a certain amount a year. Search for EITC, or visit www.irs.gov to find out if you qualify.





Also you should check to see if there are any VITA sites you could go to for free tax prep by trained volunteers.
benefit of filing joint - lower tax





benefit for separate - you are only responsible for you own tax, and if your spouse owes, you aren't responsible for it
You almost always pay less when filing joint. Also some tax benefits like EIC are not available if you file separate.





http://www.irs.gov/





TaxRef


http://www.pdftax.com/
you get to claim more like your house together