Hello JScheckler,
Congratulations on becoming new home owners and newlyweds!
For most people, filing married filing joint will give you the best tax benefits. You will have a higher standard deduction amount for filing as married filing joint, and many credits will be available for the two of you to use.
The IRS encourages people to file as married filing joint by giving tax breaks to couples that file together.
If you are married and file separate, most tax payers end up paying a higher tax rate than if they filed jointly.
In 2023, Married Filing Separately taxpayers only receive a Standard Deduction of $13,850 compared to the $27,700 offered to those who filed jointly. That big difference usually helps a newly married couple pay less in taxes as a family unit, then continuing to file apart.
When you are ready to file your taxes for 2023, you can decide which TurboTax account you want to use in order to file your taxes. It doesn't matter whose name is on top of the tax return when you file a joint return.
For more information about filing jointly or separately, feel free to review the following TurboTax website: https://turbotax.intuit.com/tax-tips/marriage/should-you-and-your-spouse-file-taxes-jointly-or-separ...
Thanks,
Sean
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