Welcome, Guest. Register Now!
   
Veiw New Posts View Todays Posts


» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 
Financial Planning
 
 
 



Reply
 
LinkBack Thread Tools Display Modes
  #1 (permalink)  
Old 03-30-2007, 01:54 AM
Junior Member
 
Join Date: Mar 2007
Posts: 1
filing our 2006 taxes jointly or separately?

I sold my house last year, and put half of the profit down on a house that I bought with my fiance. We got married at the end of October. He sold his house last month. Are we better off filing our 2006 taxes jointly or separately?

Thank you
-- Nora
Reply With Quote
Sponsors
  #2 (permalink)  
Old 03-30-2007, 11:58 PM
Super Moderator
 
Join Date: Jan 2007
Location: New Jersey, USA
Posts: 641
Blog Entries: 1
Well, generally it is very hard to tell, but on the surface and with the marriage penalty still existing, one would generally advise you to run the tax program with both scenario, ie Married filing joint and with Married filing separate.

Most tax programs today have the ability to project the tax liability using both scenario's, and so the taxpayer can determine which filing method is most beneficial. So, I would recommend that you direct your CPA to prepare both scenario's and you can then decide which one offers the best tax refund!
__________________
Ask TaxGuru
Please refer to the legal disclaimer.
Reply With Quote
Sponsors
Reply


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off