This is not a post for tax year 2017, but for tax year 2018
With SALT deductions being capped at ~$10k per year in tax year 2018 and forward, just looking to see what makes the most sense, i.e. filing separately or jointly.
Wife makes ~$80k gross (hourly) & I make ~$70k gross (salary). We have insurance through my wife with an HSA (will be maxed out), and utilize dependent care FSA (also maxing out). She will contribute ~$11k to her 401k, and I will contribute $15k to my 401k.
Will it make sense to continue filing jointly? Mortgage interest will be about $5,500 next year & our property taxes will be ~$6,700. Please note, that both the mortgage and the deed is ONLY in my name.
Would it make sense for us to file married/separate next year, with me taking the SALT deduction?
Submitted March 25, 2018 at 10:37AM by taylorretirement https://ift.tt/2pDKe0y
