IBR and filing joint taxes

[samahok]

I recently got married, and I was curious if we start filing taxes jointly, will my wife's income be factored into my IBR calculations and raise my payments significantly?

Thanks for any insight!!

[Hoya08]

If you file jointly, your household adjusted income will be used to determine your IBR.   If you file separately, only your adjusted income will be used.

http://studentaid.ed.gov/repay-loans/understand/plans/income-based

[samahok]

Thank you very much for your reply and for that link!  It looks like I will have to hire a tax professional to determine if it will make more sense filing jointly or together for this year.  Right now under my IBR I pay only $250/mo and without it I would end up paying $400/mo but if we will get more back thru tax breaks or other benefits it might make more sense to just file jointly.

Thank you again!!

[spano41]

I have a related question.  Can you switch back and forth year to year.  For example, if your spouse isn't working one year so you file jointly to get tax breaks but then the next year they get a job, can you file seperately so your spouses income won't be considered?