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Married Filing Separately
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Married filing separately is a tax filing status under which a married couple files a separate tax return for each spouse. Married filing separately is the opposite of married filing jointly. Typically, married filing separately results in a higher tax liability for the couple. But there are certain cases in which married filing separately is a sensible filing choice. If one spouse has significant deductible expenses or miscellaneous deductions married filing separately may result in a lower tax liability for the couple overall (thats because many deductions are deductible only up to a certain percentage of adjusted gross income). The disadvantages of married filing separately include missing out on certain credits that are only available to married couples filing jointly.
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