filing as married jointly puts all assets on the table. This means that the wife who has $600,000 in her 401(k) may have that seized by the IRS to satisfy back taxes, even if the bulk of the ...

The 2024 standard deduction for married couples filing jointly is $29,200, which applies to taxes filed in April 2025. The standard deduction for joint filers rises to $30,000 for taxes filed in 2026.

Most married couples are likely to receive the most tax credits and deductions if they file their taxes jointly. However, filing separately might be better in certain circumstances, such as if the ...

House Republicans passed a bill to raise the ‘SALT’ deduction cap to $40,000. Here’s who would benefit from the change.

Thomas is a native of upstate New York and a graduate of the University at Albany. As a member of CNET's How To team, he writes about the intersection of policy, information and technology, and ...

Prior to the Tax Cuts and Jobs Act (“TCJA”), there was no direct limitation on an individual taxpayer’s deduction of his or ...

Our openness means that I didn't anticipate much change when we got married, though we knew that one major change would be filing our taxes jointly. I often owe a large amount during tax season ...

How to file your taxes for free Direct File IRS Free ... or $168,600 if you had more than one employer You file as married filing jointly, and your spouse's wages are more than $200,000 (or ...

[Read: Married Couples: Is It Better to File Taxes Jointly or Separately?] Head of Household Status Who qualifies:Usually someone unmarried or legally separated with dependents. This one can be ...

If the House provision is enacted, the SALT cap would rise to $40,000, up from $30,000 in the previous plan, and phase out ...

Filing taxes is a daunting experience for many ... or other person who qualifies you for any other filing status. Married filing jointly: You are married and able to file a joint return with ...