Q: Maryland Income Tax Law regarding Social Security income. I understand that any amount received over $44,000 is taxable
85% of the excess amount is taxable income. I received a large back pay amount from my disability case.
I usually file my taxes married filing jointly using turbo tax.With my SS and my spouses SS benefits our income amount is over 100K for 2017.
Should I file married filing jointly? [this is how I always have filed in the past]
or should I file married filing separately?
to lower my total income and reduce the total taxes I will be required to pay IRS
A: I would have an accountant prepare your returns for this tax year. They can determine the best way to file your taxes. If you end up owing taxes that you cannot pay, filing separately would make you solely responsible and your wife would not have to worry about the IRS coming after her for your tax liability. That being said, you can end up paying more in taxes by filing separately. It is impossible to tell without all of your financial information and that kind of detail would be inappropriate for this forum.
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