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Advantages when filing jointly

While the IRS allows couples to choose whether to file jointly or separately, couples may have many advantages when filing jointly. Let’s look at a few reasons behind this: 

Lower tax rate 

Since the tax rate ranges for married filers are different than single filers, couples that combine incomes could bring a higher earner into a lower tax bracket. 

More credits and deductions 

The IRS gives couples filing jointly the largest standard deduction each year, which  allows couples to deduct a significant amount from their taxable income. In 2021 the  standard deduction for a couple filing jointly is $25,100 and for married filing separately or single it was $12,550. Couples who file jointly can usually qualify for multiple tax  credits such as the: 

  • Earned Income tax credit
  • Child and Dependent Care credit
  • American Opportunity credit
  • Lifetime Learning credit
  • Maximum state and local tax (SALT) deduction
  • Full IRA deduction (up to the income limits)
  • Student-loan interest deduction

Separate filers are usually limited or even disqualified from deductions like these. 

Contribute to a Roth IRA 

The amount that you can contribute to a Roth IRA and your eligibility can be impacted  by your living arrangement, income and tax-filing status. Married couples filing  separately can’t make Roth IRA contributions if your income is more than $10,000 and  you lived together at any time during the year. 


Let Anderson, Adkins & Company help you explore the variables and filing status that will  save you the most money come tax season. Our expert team is knowledgeable and  responsive, offering customized, complete solutions designed around your needs. Contact  us today to get started: 706-288-2000 or .

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