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The Tax Play That Saves Some Couples Big Bucks. Married, Filing Separately
Choosing MFS severs joint liability, meaning each spouse isn’t responsible for the information on the other’s return. This can be a deciding factor for some couples who are separated but not divorced and others who don’t want to commingle finances, even if it raises their taxes.
Knowing Your Tax Rate
When dealing with various financial circumstances such as promotions, benefits, and marriage or divorce, it can be difficult to determine how much in taxes you will owe to the federal government. This article from Kiplinger written by Rocky Mengle serves as a great refresher for understanding taxes which can help you plan for your financial future.