Probably not. Generally, filing jointly (one tax return instead of two) will give you a bigger refund or less taxes due. You can compare your estimated taxes for filing jointly vs. separately with TaxCaster.
When you file separately, your tax rate is higher and you usually won't be able to claim education credits, the Earned Income Credit (EIC), adoption credits, the Premium Tax Credit (PTC), or the Child & Dependent Care credit.
Also, if you file separately and live in Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, or Wisconsin, you have to deal with community property allocations and adjustments, which adds extra work and complexity to your taxes.
Should we file jointly or separately?
Consider updating your W-4s with your employers. If you both work, or if your non-working spouse returned to work during the tax year, your family withholding may not align with theigher tax rate. Since employers withhold tax based only on the income they’re paying you, combining your income with your spouse’s income might result in neither one of you having enough withholding to pay the increased tax rate on the combined earnings.
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