Property Tax Deduction Federal
August 13th, 2011
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Question: I just got married this year. Would it be more advantageous (tax wise) to file jointly. My husband and ?
I don’t have any Tax Deductions (don’t own property) and I make a considerable amount more than him. Obviously my goal is not to be ‘eaten alive’ by CA state and federal taxes. I am also getting a bonus in the next couple of weeks which will put be in a higher tax bracket. What kind of tax-deferred options are out there? I’m wary about where I should put my money during the financial crisis.
Answer: For the vast majority of couples, it is preferable to file jointly. An IRA is an excellent option for you to look at for tax deferred income, but it is certainly true that in the current shaky economy you want to look carefully at how the money is invested and the financial stability of firm holding your IRA.
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