Tax season is in full swing, and for married couples, that means it’s time to make the annual decision whether to file jointly or separately. The tax code is written to encourage joint returns for married couples, but in some cases filing separately may be preferable.
What are the benefits of filing jointly compared to filing separately? When does filing separately make sense—and what are the potential drawbacks of doing so?
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This communication is for informational purposes only. No content or reference to a third-party article is intended to be a recommendation for the sale or investment in any product, strategy or service nor should it be perceived as individual advice. This commentary does not necessarily reflect the opinions of all employees or XML Financial Group and its affiliates (“XML”). XML is not responsible for any actions taken related to this information.
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