Should we file tax separately or jointly?

Date: Tue, 03/03/2015 - 04:57

Submitted by Samuel Tylor
on Tue, 03/03/2015 - 04:57

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Total Replies: 3

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?

well

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

lrhall41

Submitted by paulmergel on Tue, 03/03/2015 - 09:05

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Thanks for your suggestion :-

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?

lrhall41

Submitted by Samuel Tylor on Mon, 03/09/2015 - 05:31

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hmm

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.

lrhall41

Submitted by paulmergel on Sun, 03/22/2015 - 13:03

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