For married couples, filing taxes jointly requires significantly less paperwork and time. It can help married couples save money with their tax preparer in comparison to paying for two separate filings. Married couples can also avoid certain tax penalties when they file together.Continue Reading
Married couples have the option of filing separately or jointly. There are many advantages to filing jointly, particularly when one individual makes significantly more than the other. In the past, married couples' incomes were combined, and filing jointly pushed them into higher tax brackets. However, as of 2015, tax laws ease the penalties on married couples and offer greater savings. The joint tax bill ensures that couples who file together remain closer to the bracket they would be in if they were single, which means even couples who both have high incomes aren't terribly penalized.
In the case of married couples with drastically different incomes ? one partner with a relatively high income and the other with a much lower salary ? filing together has its share of perks. The partner with the lower income actually pulls the higher-paid partner into a lower tax bracket, allowing for better tax benefits. In situations like this, filing jointly saves money.Learn more about Taxes