Question

choosing correct Filling

Forum|Forum|1 year ago
February 3, 2025
1 reply
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Hi,

I would like to ask which option best fit to my current situation, I'm married and i have a son, since im the only one that will be working since my wife has not allowance.

how should claimed to be taxed as best fit?

I live in Wisconsin.

Thank you on advance

Not A Product Question

X

xmasbaby0

Employee

JOINT vs. SEPARATE RETURNS

If you were legally married at the end of 2024 your filing choices are married filing jointly or married filing separately.

Married Filing Jointly is usually better, even if one spouse had little or no income. When you file a joint return, you and your spouse will get the married filing jointly standard deduction of $29,200 (+ $1550 for each spouse 65 or older) for 2024. You are eligible for more credits including education credits, earned income credit, child and dependent care credit, and a larger income limit to receive the child tax credit.

If you choose to file married filing separately, both spouses have to file the same way—either you both itemize or you both use standard deduction. Your tax rate will be higher than on a joint return.

Some of the special rules for filing separately include: you cannot get earned income credit, education credits, adoption credits, or deductions for student loan interest. A higher percent of your Social Security benefits may be taxable. Your limit for SALT (state and local taxes and sales tax) will be only $5000 per spouse. In many cases you will not be able to take the child and dependent care credit. The amount you can contribute to a retirement account will be affected. If you live in a community property state, you will be required to provide additional information regarding your spouse’s income. ( Community property states: AZ, CA, ID, LA, NV, NM, TX, WA, WI)

If you are using online TurboTax to prepare your returns, you will need to prepare two separate returns and pay twice since with online, you get one return per fee.

https://turbotax.intuit.com/tax-tips/marriage/should-you-and-your-spouse-file-taxes-jointly-or-separately/L7gyjnqyM?srsltid=AfmBOopGqCNexowW0pYgvsf7ycIkrx4VjO_63UXv6vSnfu3UEGQiKQTh

https://ttlc.intuit.com/turbotax-support/en-us/help-article/income/getting-married-mean-taxes/L2RgmagpE_US_en_US?uid=m69on7t0

https://ttlc.intuit.com/turbotax-support/en-us/help-article/taxation/married-filing-separately-community-property/L11CeLUMs_US_en_US?uid=m69ousyh

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

E

Edgar Ivan Author

thank you,

adding more details, in my personal situation i just moved to the US, i have been married to my spouse for about 4 years, my son is 2 years old. i was told best option might be to claim Married Filing Jointly has wider tax brackets, because I'm taxed at a lower effective rate. The rate would be 22% up to $190,750, I think that my best option would be to claim married filing zero.

X

xmasbaby0

Employee

@Edgar Ivan Are you asking what to do on your tax return (the Form 1040 you send to the IRS to receive a refund or pay tax due) -----or are you asking how to fill out the W-4 you give to your employer to tell them how much tax to withhold from your paychecks?

https://turbotax.intuit.com/tax-tools/calculators/w4/

https://www.irs.gov/individuals/tax-withholding-estimator

https://www.irs.gov/pub/irs-pdf/fw4.pdf

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**