Married in November 2023

[ejoh125]

My fiance and I are getting married in a few weeks on November 11, 2023. When we file our taxes next year, would it be more beneficial to do so jointly or individually?

[bkaytaxes · Accepted solution]

Hello @ejoh125!

Fist off, Congratulations!!   A married couple has the option to file Married filing joint and Married filing.  In most cased filing jointly has the most benefit.  Everything is doubled, the Standard Deduction, limits for taking credits, etc.!  and on the other hand some credits are limited or reduced if you choose to file separate.  

There are a few factors consider, say if one spouse did not pay enough taxes, etc.  or other situations that make filing separate a better option.

   The best way to eliminate the guess work is to use our free tool, Tax Caster.  You can input your details and see where you stand in each filing status without actually filing your taxes.  Here is a link to TaxCaster 

Here is a great article outlining more information for newly married couple's  Newlywed Information. 

Wishing you all the best!