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March 26, 2023
Question

Married Filing Separate or Married Filing Joint when self employed

  • March 26, 2023
  • 1 reply
  • 0 views

We are going to owe on taxes this year with the married filing jointly and going over options for filing.

 

We have no kids to claim due to them making $ and being out of college all year. 

My husband made average $  on the w2 (between 35-55K)

I make the average $ on my w2 (between $35-55K) yet I am a real estate agent, so I made some extra money last year from that (been making real estate $ for about 3 years and always paid in quarterly installments so we dont owe at year end)  *appx $10K 

We take the standard deduction because we don't have enough to itemize. 

 

So my questions is  this: 

Would it be better off to file Married Filing Separate because my income on the w2 and self employment or just keep it at Married Filing Jointly? 

 

 

 

 

    1 reply

    Employee
    March 26, 2023

    The way to know is to do it both ways to see which is better. Most of the time married filing jointly is better.