Community property laws affect how you figure your income when filing income taxes. Usually if you file a joint return with your spouse the taxes will be less versus if you file as married filing separately. However, sometimes it may be better to file separate returns. Before doing so you need to know if you reside in a community property.
So, which states are community property states for married couples?
Arizona.
California.
Idaho.
Louisiana.
Nevada.
New Mexico.
Texas.
Washington.
Wisconsin.
If you do file separate returns, you will have to determine what the community property income is and your separate income.
Registered domestic partners who happen to live in these states must generally follow state community property laws as well. (Nevada, California, and Washington). Domestic partners aren’t married for federal tax purposes, so you can file as single if they qualify or file as head of household.
To learn more about how living in a community property state go here.
Please contact us if you need to file past tax returns or have unresolved tax balances.
904-374-8960 or text us 904-257-3145 email: info@pegasustaxpros.com.
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