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In this episode, I break down the differences between filing jointly and filing separately as a married couple. I go through real scenarios where filing separately can actually lead to better outcomes, especially when it comes to student loans, tax credits, and mortgage approvals. I explain how combining income can sometimes push you out of eligibility for certain benefits, and how separating returns might help reduce payments or qualify for better financing. I also touch on the trade-offs like higher tax brackets and added complexity that come with filing separately.

Timestamps:

00:00:00 Intro

00:00:39 When Filing Separately Saves More

00:01:26 Tax Credits and Deductions Overview

00:02:10 Real Example: Education Credit Eligibility

00:03:11 Using Software to Compare Filing Status

00:04:25 Student Loans and Income-Driven Repayment Plans

00:05:48 How Filing Separately Reduces Student Loan Payments

00:06:28 Mortgage Approval and Debt-to-Income Strategy

00:07:48 Real Estate and Loan Structuring Tips

00:09:00 Downsides of Filing Separately

00:10:00 Decision Framework for Filing Status

00:10:49 Real-World Case: Buying a Home with High Student Debt

00:11:25 Conclusion

Want me to answer your real estate questions? Come to my next Ask Me Anything Q&A:

► https://taxstrategy365.com/pod-ama

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*None of this is meant to be specific investment advice, it's for entertainment purposes only.