This post may contain affiliate links which may compensate us based on your interaction. Please read the disclosures for more information.
Married couples might have good reason not to file a joint tax return. PeopleImages.com – Yuri A / Shutterstock.com
The filing status that you select for your federal tax return affects more than just the “Filing status” section of your return. It can affect everything from your standard deduction to your eligibility for certain tax credits. In short, it can affect your tax bill itself. Married couples can choose between two different filing statuses: married filing jointly and married filing separately, or MFS.
More from my site
Are You Paying Too Much for Life Insurance?
Tax Day Is Less Than One Month Away. Here’s What You Need to Know From a Tax Professional
Managing Your Finances With Multiple Streams of Income #YourMoneyYourLife
8 Surefire Ways To Get Rid of Debt ASAP
The Fed’s Latest Decision on Interest Rates Is Great News for Savers. Here’s Why
3 Ways Costco Can Save You Money on Car Ownership — Besides Cheap Gas
