BUISENESS MANAGEMENT
TAXES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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$14, 212
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$10, 071
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$12, 792
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$14, 201
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Detailed explanation-1: -Married couples have the option to file jointly or separately on their federal income tax returns. The IRS strongly encourages most couples to file joint tax returns by extending several tax breaks to those who file together.
Detailed explanation-2: -When you prepare and e-File a tax return as Married Filing Separate, you and your spouse each file your own return. As such, you report your own individual income, deductions, and credits on your separate tax returns. That way, you and your spouse are only responsible for your own individual tax liability.
Detailed explanation-3: -An individual is required to file a separate return of income. Joint filing is not permitted. Husband and wife are treated as separate and independent individuals for the purposes of Indian income tax.