How to File Taxes if Married Filing Jointly

Video Transcript

"Today we're here to talk about filing a joint return. For most married couples, the married filing jointly status is typically the best alternative, not always, but typically. In a married filed jointly return, you will combine all of your expenses, all of your incomes and it will basically be filed like you are one entity. It's will typically save you a little bit on taxes depending on if you don't have anything that's out of the ordinary I guess would be the best way to put it. You can use a 1040 or a 1040A form or if you are under 65 and you're not blind, you can use the 1040EZ. The one down side if you will to married filing jointly is that you are both financially and legally responsible for results of that return meaning that if one of you, if you owe taxes and one of you doesn't pay it, the other one is wholly responsible for making sure that it does get paid. So normally not a big issue, but could be in the right circumstances."