Newlywed, incoming fellow, student loans: should I file taxes as married, filing separately or no?
Got married recently and was filling out the W4 for my incoming fellowship position.
I will make around 85K in this role, my wife will make ~65k. I have ~170k in student loans, which are under the IBR program. Currently paying like 350 a month on them.
Should I file taxes separately from my wife to limit my income for student loans calculations? Or am I throwing away money on the deductible in doing that. Don't they also not calculate the income-based rate until the next tax year, so should I try to game the system and wait? I imagine I ought to crunch the numbers and figure this out, but didn't know if there was just a standard advice here that would save me the effort.
u/HolyMuffins — 2 days ago