3 Major Drawbacks of Married Filing Separately

If you are married, is it better to file your taxes separately or jointly? There are 3 major drawbacks when you file separately that you need to be aware of!

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Mike Bernard, CFP® offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results.

[rossanaospino-camargo]

This information is so helpful! Thank you for sharing!

[wisulliv]

Back door Roth negates income limitations.

[BUY_YOUTUBE_VIEWS_]

"If you want to live a happy life, tie it to a goal, not to people or things." - Albert Einstein

[aidaurquidez]

Can you explain legally bling husband and 68 year old. I want to file married filing separately.

[jayj]

Hi what if your husband pays child support and gets behind on some payments because of his employment he is always working at different chemical plans, and by the time deductions kick in he falls behind but not too much. Will that affect our filing status if filing together ?

[Ellis]

What if you’re in a neighboring state and your wife and yourself have separate residencies

[rakeshsadu]

Hello, my spouse has Student Loan. Student loan payment advisor told her if she files separately she can save huge amount in monthly payments this year. But we have been filing our taxes jointly for past 5 years. We have two dependents and also have Roth IRAs. We are in dilemma, which way to go. Please advise. Thank you

[dennishipsley]

Why be concerned about "filing?" TAXABLE years ENDED AUGUST 16 1954. GOOGLE CFR 26 1.0-1 paragraph (d). Passed into LAW by the 83rd Congress. There LAWFULLY has NOT been an "income" tax for almost 70 YEARS!!!