Tax Tip Tuesday: When to file separate tax returns - KULR8.com | News, Weather & Sports in Billings, Montana

Tax Tip Tuesday: When to file separate tax returns

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BILLINGS, Mont. -

When should a married couple think about filing separate tax returns?

Becky Spencer with Laser 1040 says, "Sometimes with the premium tax credit, with this health care thing, it can be cheaper to file separate. If one of you has a lot of out of town overnight expenses for your employer, sometimes that can make a difference. Or, if one of you have high medical and it's because of the percentage of the income that those itemized deductions have to be reduced by, that sometimes helps on the federal. There's just certain situations that it saves but in many cases the savings end up being negligible.". 

The tax deadline this year is April 18th.
   

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