Taxes 2005

[keryx]

Originally Posted by farfromhome

I've been advised by two different tax preparers that married filing separately is the worst possible way. I have not lived with my ex in three plus years and probably never will again. However, neither of us has the financial wherewithal to make it legal...kid issues, etc. My preparer this year said that * wink * many people in my position file as if they were still together. Assuming your ex is agreeable...Do any cellarites have any experience or opinon about this?

As long as you are still legally married, you can file married filing jointly. And yes, it would be strongly recommended that you do so if possible. There are all kinds of little known rules about married filing separately that can really mess you up: like the fact that if one spouse files separately and itemizes deductions, then the other spouse who files must also itemize. This can really screw the spouse that has nothing to itemize. No, you cannot take the standard instead. To say nothing of the unbelievably high tax rate. MFJ has the best tax rate, MFS the worst (same as single!)

Those separated, but still married people might also be able to file head of household, if they have a qualifying dependent and pay more than 50% of the cost of maintaining a home for that dependent, AND have been separated for the last 6 months of the year.

It is possible for one spouse to be able to file as head of household and the other stuck filing MFS.

I did taxes for several years, and the basics of the tax code never changed. I was able to refresh my memory by going to www.irs.gov website, which is full of information and basically up to date.

Yeah, I know reading through tax code is about as exciting as, well, watching paint dry.