To file jointly or to file separately? A lot of couples have the same question when preparing to file taxes. Just because you’re married doesn’t mean you have to file a joint income tax return.

When filing jointly, you risk raising your adjusted gross income. If you file separately, you might miss a tax-break you wouldn’t otherwise be qualified for.

Here’s what this latest freecreditscore.com™ Credit in 60 Seconds video covers:

– Risks of filing taxes jointly
– How you can avoid the “marriage penalty”
– Separation and alimony payments
– The marriage

Did you and your partner get a great tax refund this year? Consider allocating your money toward putting your family in a better financial position. Learn more about budgeting with your family in mind on the blog.

 

This article is provided for general guidance and information. It is not intended as, nor should it be construed to be, legal, financial or other professional advice. Please consult with your attorney or financial advisor to discuss any legal or financial issues involved with credit decisions.