Taxes


#1

1–Me and my wife are seperating to day we have been married for years. We have two kids and I was woundering how do we file our taxes for this year?

2-- next year how do we do our taxes ie kids who claims them?


#2

You may file married filing jointly, or married filing separately for so long as you are legally married. I would suggest running the numbers both ways to see which is more advantageous. As for the dependency exemption, the party who has primary custody of the children has the right to claim them on their taxes unless you agree to another arrangement.