Exclusive Tax Service

If you’ve experienced one of the following, it may be more beneficial for you to file separately instead of jointly:
• You have relatively equal incomes.
• One spouse has significant medical expenses, various itemized deductions or casualty losses.
Filing separately may benefit these couples because the adjusted gross income will be calculated separately for taking the above deductions.

When you plan on making a charitable contribution that you plan to deduct on your taxes, donate the appreciated capital asset rather than selling it and donating the after-tax proceeds to the charity. If you donate the asset itself rather than cash from the sale of it, you can avoid paying the capital gains tax on the sale, and you can deduct the item for the full fair-market value.