Share post
Share
Debt Consolidation Forums US tax system and impact on debt forums

Should we file tax separately or jointly?

Date: Tue, 03/03/2015 04:57
member profile picture
Posts: 2
Credits: 0
[Donate]

I have a query regarding paying taxes. I live in Oldham County, Kentucky. I am working in a company and earn $7300 per month. My wife has started working from August 2014. She earns about $4000 per month. We have bought a home and currently paying $1200 on mortgage per month. We have two children who are going to school. I want to know what will benefit us - Filing tax separately or jointly?




unless one of you has liabilities(garnishment,judgement,etc)file jointly.

Sub: #1 posted on Tue, 03/03/2015 - 09:05

paulmergel paulmergel
Moderators Cum Industry Expert
(Posts: 15512 | Credits: )

Thanks for your suggestion :-)
I didn't mention that I currently have certain medical expenses. I have to spend certain amount on medical care every year especially for my two children. I heard that filing separately helps more. So, how can I make the decision?
I have another query - Will I get some tax benefit if I send my children to private school instead of public school?

Sub: #2 posted on Mon, 03/09/2015 - 05:31

Samuel Tylor Samuel Tylor

(Posts: 2 | Credits: )

don't know about the school tax benefit,but you are saying your income goes toward insurance,and expenses?if so then you file seperately with you as head of household with the children as your dependents.since your income is greater,and taking the medical expenses into account do that.

Sub: #3 posted on Sun, 03/22/2015 - 13:03

paulmergel paulmergel
Moderators Cum Industry Expert
(Posts: 15512 | Credits: )

Attachment
More information
  • Files must be less than 500 MB.
  • Allowed file types: txt pdf jpg jpeg png.


DebtConsolidationCare (IAPDA member)
Inter Next Technologies, Inc., Internet Marketing Services, Reno, NV
Connect With Us
About Us | Contact Us | Privacy Policy
Copyright © 2018 DebtConsolidationCare | 301 W. 11th Street Unit E, Reno, NV, 89503, United States
* Disclosures:
  1. By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
  2. Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
  3. Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
  4. Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
  5. The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.
Page loaded in 0.691 seconds.