We typically see the most benefits as married filing jointly. The IRS strongly encourages couples to file joint tax returns by extending several tax breaks to those who file together. Filing jointly provides the greatest deductions.
The only time you'd want to file separately is if you're filing with someone who has high student loan debt, has claimed bankruptcy, or has a high tax payment plan with the IRS.
If you have children and proceed with Married filing separately then you will each claim specific dependents, cannot both claim the same child, for example.
We recommend making use of the IRS Interactive Tax Assistant to help you determine which status gives you the lowest tax.
How much does Heard charge if I file jointly with my spouse?
There is no additional fee to filing your tax return if you choose to file married filing jointly. If you choose to file married filing separately your spouse will need to file their annual tax return outside of Heard.
Standard Deductions for 2023 Tax Year: