What is the difference between filing for taxes jointly or separately? 2 Answers as of November 03, 2010

I am getting married, and I was wondering how this will affect my taxes. He makes significantly more money than I do (almost 4 times as much), but I have investments worth about what he makes in a year. Will this affect how much we owe together? What is the difference between filing jointly and separately?

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E. Ray Critchett, Zaino & Humphrey, LPA
E. Ray Critchett, Zaino & Humphrey, LPA | Ray Critchett
Generally, it is best to sit down with an accountant, CPA and/or tax attorney to review you and your spouses income, deductions and other issues before determining whether or not filing separately or jointly would be in your best interest. There really is no easy answer without having a complete financial picture for both of you.

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Answer Applies to: Ohio
Replied: 11/3/2010
LT Pepper Law
LT Pepper Law | Luke T. Pepper
Without real numbers to work with it hard to answer but generally a tax professional can provide a side by side comparison to determine your tax liability by filing jointly or separately.
Answer Applies to: Pennsylvania
Replied: 11/2/2010
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