married filing jointly vs married not filing jointly

[okiemom2008]

Does anyone know the pros/cons to these two. From what I can tell basically you just get double exemptions.

[Tbornetun]

Pretty much, both of your incomes count either way. I would say it is more beneficial to jointly file if you have a lot of debt in both of your names. If one of you has all the debt and the other has great credit then the one with the debt should file.

Every situation is different, it would depend upon your individual details.

[okiemom2008]

Pretty much, both of your incomes count either way. I would say it is more beneficial to jointly file if you have a lot of debt in both of your names. If one of you has all the debt and the other has great credit then the one with the debt should file.

Every situation is different, it would depend upon your individual details.

Well the reason I am thinking jointly is because we want to be able to keep as many of our guns that have been passed down in family as possible. Our exemptions allow 2 but that would be 4 if we filed jointly. I have no income-husband has 100% income.

Pretty much everything we are discharging has both our names on it..other than the credit cards. The vehicle has both of us-the mortgage has both of us.

[Tbornetun]

Even if you filed alone, your husband's income would still be counted for the means test and for your income on the schedules.

Based on what you added, it there would be no benefit to either of you to file alone.

Joint is the way to go.