One of the disadvantages of filing as Married Filing Separate is you cannot take some credits that you may qualify for. The EIC is one credit that you cannot take.
Married Filing Separate, you will usually pay more tax on a separate return, the standard deduction is half of what a joint return is, you cannot take all the credits you may qualify for, for ex. You cannot take the earned income credit or the education credits, and some deductions and credits are reduced at income levels that are half those for a joint return, for ex. Child Tax Credit.
Married Filing Joint is usually the best filing status (even if only one spouse has little or no income), you pay less tax, it has the highest standard deduction ($12,600), and all credits you may qualify for are available.
Community property states. If you live in Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, or Wisconsin and file separately, your income may be considered separate income or community income for income tax purposes. See Publication 555.
http://www.irs.gov/publications/p555/index.html
Married Filing Joint vs. Married Filing Separately
https://ttlc.intuit.com/questions/1894449-married-filing-jointly-vs-married-filing-separately
When Married Filing Separately Will Save You Taxes
You can get a quick idea of what filing status would be
better for you by using TurboTax's
TaxCaster, enter your information as Married Filing Joint, then enter each
of your own information as Married Filing Separate
https://turbotax.intuit.com/tax-tools/calculators/taxcaster/
One of the disadvantages of filing as Married Filing Separate is you cannot take some credits that you may qualify for. The EIC is one credit that you cannot take.
Married Filing Separate, you will usually pay more tax on a separate return, the standard deduction is half of what a joint return is, you cannot take all the credits you may qualify for, for ex. You cannot take the earned income credit or the education credits, and some deductions and credits are reduced at income levels that are half those for a joint return, for ex. Child Tax Credit.
Married Filing Joint is usually the best filing status (even if only one spouse has little or no income), you pay less tax, it has the highest standard deduction ($12,600), and all credits you may qualify for are available.
Community property states. If you live in Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, or Wisconsin and file separately, your income may be considered separate income or community income for income tax purposes. See Publication 555.
http://www.irs.gov/publications/p555/index.html
Married Filing Joint vs. Married Filing Separately
https://ttlc.intuit.com/questions/1894449-married-filing-jointly-vs-married-filing-separately
When Married Filing Separately Will Save You Taxes
You can get a quick idea of what filing status would be
better for you by using TurboTax's
TaxCaster, enter your information as Married Filing Joint, then enter each
of your own information as Married Filing Separate
https://turbotax.intuit.com/tax-tools/calculators/taxcaster/