The IRS STRONGLY recommends married couples file their taxes jointly. For most couples, there are tax breaks that make this the most economical option. This is because most joint filers reach a higher income threshold for certain taxes and deduction, meaning there is potential for certain tax breaks. If you decide to file separately, you are disqualified from many tax deductions and credits.
Additionally, if couples file separately, they are limited to a smaller IRA contribution deduction and cannot take deductions for student loan interest or tuition and fees deductions.
However, in certain situations filing separately might be beneficial. This is mostly due to a large out-of-pocket medical expense, as the IRS only allows a certain deduction amount of these costs that exceeds 10% of you adjusted gross income. If you and your spouse have a high household income, it can be hard to claim these expenses.
Filing taxes is dependent on each couple’s situation, but make sure to research or contact a CPA to find the way that saves you the most money.