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Tax in Action: Practical Strategies for Tax Pros
Jeremy Wells, EA, CPA
14 episodes
6 days ago
Join Jeremy Wells, EA, CPA, as he breaks down the complexities of tax law into practical guidance you can apply immediately. Each episode focuses on a specific tax strategy, credit, or compliance issue that matters to tax professionals and business owners. Rather than theoretical discussions, Jeremy delivers actionable insights based on real-world scenarios and current tax regulations. Whether you're navigating Section 1031 exchanges, maximizing research credits, or helping clients with energy tax incentives, this podcast provides the technical details and strategic considerations you need to confidently serve your clients. Perfect for tax practitioners looking to deepen their expertise and business owners wanting to make more informed tax decisions.
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All content for Tax in Action: Practical Strategies for Tax Pros is the property of Jeremy Wells, EA, CPA and is served directly from their servers with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.
Join Jeremy Wells, EA, CPA, as he breaks down the complexities of tax law into practical guidance you can apply immediately. Each episode focuses on a specific tax strategy, credit, or compliance issue that matters to tax professionals and business owners. Rather than theoretical discussions, Jeremy delivers actionable insights based on real-world scenarios and current tax regulations. Whether you're navigating Section 1031 exchanges, maximizing research credits, or helping clients with energy tax incentives, this podcast provides the technical details and strategic considerations you need to confidently serve your clients. Perfect for tax practitioners looking to deepen their expertise and business owners wanting to make more informed tax decisions.
Show more...
Business
Education
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Joint vs Separate: Marriage Filing Fundamentals
Tax in Action: Practical Strategies for Tax Pros
1 hour 2 minutes
4 months ago
Joint vs Separate: Marriage Filing Fundamentals

Most tax professionals assume joint filing is the default for married couples, but the tax code actually says the opposite. Jeremy Wells explores the surprising reality that married filing separately is technically the default status, requiring both spouses to elect joint filing under IRC Section 6013. He breaks down the key disadvantages of separate returns—from reduced credits to income limitations—while explaining legitimate scenarios where paying extra tax through separate filing can lead to better overall financial outcomes, particularly with student loan repayment strategies.

Sponsors
SafeSend - taxshow.promo/safesend


  • (00:00) - Welcome to Tax in Action
  • (01:03) - Default Filing Status for Married Couples
  • (02:42) - Misinterpretations of Joint Filing
  • (06:30) - Exceptions and Special Cases
  • (11:00) - Why Joint Returns Have Become the Default for Married Couples
  • (22:43) - Disadvantages of Filing Separately
  • (32:04) - Loss of Available Credits
  • (46:22) - Reasons to Consider Filing Separately
  • (54:55) - Common Myths and Misunderstandings
  • (57:49) - Exceptions to Irrevocable Joint Filing
  • (01:01:24) - Conclusion and Final Thoughts

Connect with Jeremy
https://www.linkedin.com/in/jwellstax
https://www.steadfastbookkeeping.com

Subscribe on YouTube
https://www.youtube.com/@TaxinAction

Earn CPE for Listening to This Podcast
https://www.earmark.app/

This podcast is a production of the Earmark Media

Tax in Action: Practical Strategies for Tax Pros
Join Jeremy Wells, EA, CPA, as he breaks down the complexities of tax law into practical guidance you can apply immediately. Each episode focuses on a specific tax strategy, credit, or compliance issue that matters to tax professionals and business owners. Rather than theoretical discussions, Jeremy delivers actionable insights based on real-world scenarios and current tax regulations. Whether you're navigating Section 1031 exchanges, maximizing research credits, or helping clients with energy tax incentives, this podcast provides the technical details and strategic considerations you need to confidently serve your clients. Perfect for tax practitioners looking to deepen their expertise and business owners wanting to make more informed tax decisions.