Sometimes truth is stranger than fiction. I’ve learned that it’s not unheard-of for a professional tax preparer to advise a married individual to file his or her tax return using the single filer status. No! No! Bad tax preparer!
Last fall, one of my colleagues sought advice from a group of planners regarding a client whose CPA had advised him and his wife to file their returns separately using “single” filing status. His inquiry prompted a number of responses from other planners with similar experiences.
Here’s the problem: if you’re married as of the last day of a tax year, …Read More