What is the benefit of filing taxes jointly if we are two married students?

Well, it makes doing your taxes a little bit easier. You only have to do them once rather than doing them twice.

According to the IRS: "By filing a joint return your tax may be lower than your combined tax for other filing statuses. Your standard deduction (if you don't itemize) may be higher. " (IRS Publication 501, "Married Filing Jointly").

If you and your spouse each have income, you can determine your tax both on a joint return and separate returns (using the filing status of married filing separately) and choose the method that gives the two of you the lower combined tax. Htm.

Filing jointly is beneficial if one person has a significantly higher income than the other. Essentially, by filing jointly, you are paying on your average income, rather than the one with high income paying in a higher tax bracket.

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