Joint vs Separate: Marriage Filing Fundamentals
Episode 5 of Tax in Action Is Now Live!
Most tax professionals assume that married couples will file jointly—and for good reason: the joint return often results in the lowest tax liability. But what if that assumption flips the Code on its head?
🎙️ In this episode of Tax in Action, I break down why joint filing is not actually the default, despite how it’s treated in practice. I also walk through how to properly compare filing statuses, review the disadvantages of separate returns, and explain why some clients might still be better off filing separately, whether because of student loans, mistrust, or financial protection.
In this episode, you’ll learn the following:
🏛️ Why joint filing isn’t the default status for married taxpayers under the Internal Revenue Code;
🔎 How to use your tax software to compare joint vs. separate returns accurately and spot common data entry mistakes; and
💸 When it makes sense for a married couple to file separately, even if it increases their overall tax liability.
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Filing status can make a big difference for taxpayers, in terms of both tax and personal finance. Make sure you’re taking all of the taxpayers’ needs into account when you prepare those joint returns!