Tax Tip of the Week | No. 300 | A Third Look at MFJ vs. MFS

Tax Tip of the Week | April 29, 2015 | No. 300 | A Third Look at MFJ vs. MFSHow you file in Ohio

The last couple of weeks we have looked at Married Filing Joint (MFJ) vs. Married Filing Separate (MFS).  This week we see how you need to file these in Ohio.Unfortunately, if you file a MFJ federal return you must file a MFJ return with Ohio. If you file MFS federal returns then you must file MFS returns with Ohio.  This is unfortunate because typically, the tax saving from filing MFS comes from the Ohio taxes saved.  There are a few states that allow separate federal and state filing statuses.The rules differ, however, if you are a same-sex couple.  Last year, it was determined that if a same-sex couple was married in a state that recognizes such a marriage then they had to file either a MFJ or MFS federal return. Since Ohio does not recognize same-sex marriages, each couple must then file returns with Ohio as a “Single” filer if required to file an Ohio tax return.It helps to know the rules before you even start to file your tax returns!You can contact us in Dayton at 937-436-3133 and in Xenia at 937-372-3504.  Or visit our website.Rick Prewitt – the guy behind TTW...until next week.