My fiancé and I just relocated and are looking into a joint banking account since we would have set one up next year at this time after we are married....we pay bills together, live together, and are financially compatible spending wise so I do not want nor do I need any lectures about how joint banking accounts are the devil and he will drain me for all I'm worth because we are not married, I think those are silly since its just as easy for someone who is married to do things like that as opposed to engaged....so onward and upward into my questions...
We are debating on a joint checking account (each of us will retain our separate savings accounts and other accounts which we contribute into monthly)....however my fiancés dad has him convinced that if we join bank accounts even though we will file separately that we will have to
"pay through the nose" on taxes and on our tax returns simply because of one shared account...and I want to know if there is any truth to this, I understand it could cause a small bump and I will pay more anyways since I just took a higher paying job. I should note the only reason my fiancé is considering not doing this is because he is now under the impression that we wont be able to afford to pay into taxes every year because of the joint account. I should also mention that my future father in law is not a tax professional he is a farmer who most of the time has no clue what he is talking about when it comes to these matters and is often rather gullible to what people tell him
thanks anyone who made it through this
if you don't want to read it...here is a synopsis-
If not married filling taxes separately does having 1 joint account (checking) cause an increase in taxes, and if so is it significant?

In general, any couples and individuals use joint bank accounts as convenient tools for ordinary banking needs, adding to cash savings or earning interest on bank investment products or etc. A joint bank account is a financial account that is owned by two or more people. All account holders' names are listed on a joint bank account, with one person signing an IRS W9 form for tax purposes. The person who signs the W9 tax form when the bank account was opened owes the income tax on the interest in a joint account. This is usually the first person listed on the account.However, the IRS views each individual on a joint account as a co-owner with equal rights of ownership. Regardless of the relationship between the two individuals, each owner bears an equal amount of responsibility in reporting and paying taxes.The IRS regards any interest, or gains earned on cash or other assets held in a joint bank account as taxable income. Legally, each of you is responsible for paying taxes on half of the earned interest or gains. Common sources of taxable interest in a joint account are funds from interest earned on cash, CD,, bonds and money market accounts. Joint account owners receive a form 1099-INT from their bank in early spring outlining earned taxable interest above $10 from the previous calendar year. For unmarried individuals filing separate returns, a joint bank account can unknowingly trigger a number of potential federal tax complications. For example, the federal gift tax allows individuals to exclude the first $14K for 2013, I guess, of total personal gifts from taxation. Any gifts to individuals or charities outside the exclusion limits are considered taxable gifts by the IRS. Under these guidelines, withdrawals made from the joint bank account past the $14K limit would qualify as a taxable gift from the other owner of the account.