I am married, so don't I have to file a joint return?
Not necessarily. Filing a joint return will usually result in lower taxes. But in specialized cases, filing two separate returns may result in a lower total tax. This option is available to every married couple on a year by year basis. So if one spouse has significant medical or employee business expenses, it may be beneficial. It doesn't happen often, but it only takes one year to save some money. We can run the numbers for you.
As always, please call (949) 683-8111 or email us at info@southcountycpa.com if you have any questions. We are here to help.
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