Will tools of trade exemption amount doubles if filing jointly? My wife has a business with +/- $5000 equipment and I have almost the same in my business. if my state's exemption is 7000, does it means it doubles to 14000 when filed jointly? Thanks for all your advice.
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Originally posted by cj0203 View PostI'm not 100% sure, but I do believe all exemptions double when filing jointly.
And even in states that do allow doubling, all exemptions for each state are not necessarily doubled.
What state are you in, ejny65?I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.
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