black00ws6 Posted October 22, 2004 Report Share Posted October 22, 2004 Do you get more taxes back at the end of the year by claiming married? Quote Link to comment Share on other sites More sharing options...
Skinner Posted October 22, 2004 Report Share Posted October 22, 2004 no we both claim one one our w2s. but this is also the first full year we have lived in our house and paid the correct propority taxes so how knows in the past we get between 500 and 1000 back and have been married now for 4 years. Quote Link to comment Share on other sites More sharing options...
Sully Posted October 22, 2004 Report Share Posted October 22, 2004 I think you do. In the past, I have always gone to H&R Block. The wife has always done her own. Now that we're married, we're gonna go to H&R together, have them calculate our taxes seperate, then calculate them together. Which ever one gives us the most money back, we'll file that one. Quote Link to comment Share on other sites More sharing options...
Guest powers Posted October 22, 2004 Report Share Posted October 22, 2004 Mine is all messed up becasue I have to itemize which means she has to and I always get a return on mine and I have to pay on her's. It still works out better than both of us filing together or alone and taking standard deductions. But married you will pay a little more in taxes. Quote Link to comment Share on other sites More sharing options...
nathan Posted October 22, 2004 Report Share Posted October 22, 2004 It is based on INCOME. The more you make the higher the tax rate. If you both make money, then you will pay more by filing together. If you own a house you have to itemize deductions, period. Unless you do not pay a mortgage, property taxes, etc. on the house. Also, like what was said above, if one person itemizes both have to. Quote Link to comment Share on other sites More sharing options...
Trouble Maker Posted October 22, 2004 Report Share Posted October 22, 2004 Not sure, but I'd do it both ways just to check and see. I'm sure there are more variables that go into it that could possible make it advantageous to file separately or jointly. I would imagine one of the biggest variables being how big of a discrepancy there is in the amount you make. I would want to think if you made X dollars, and she made nothing or next to nothing, or vice-versa, it would be advantageous to file jointly. But I would imagine that, as the two peoples yearly earnings get closer to one another that advantage would become smaller, until it makes more sense to file separately. Originally posted by BIG PAPA: Mine is all messed up becasue I have to itemize which means she has to and I always get a return on mine and I have to pay on her's. It still works out better than both of us filing together or alone and taking standard deductions. But married you will pay a little more in taxes. So your saying even if you file separately and your married, if you itemize, she also has to? Or do you file jointly so you both have to itemize if one of you does? Quote Link to comment Share on other sites More sharing options...
AudiOn19s Posted October 22, 2004 Report Share Posted October 22, 2004 I'm gonna bump this one up and add in a little question of my own. I'm getting married Nov 5...will I still be able to file single since we both were for most of the year...or once your married your married and that's it... My .02 is that everyone informs me that once married we'll have to pay more in taxes with the combined income of my fiance and myself???...but I'm still somewhat clueless as to why as well. Quote Link to comment Share on other sites More sharing options...
Guest powers Posted October 22, 2004 Report Share Posted October 22, 2004 Originally posted by Neo: Not sure, but I'd do it both ways just to check and see. I'm sure there are more variables that go into it that could possible make it advantageous to file separately or jointly. I would imagine one of the biggest variables being how big of a discrepancy there is in the amount you make. I would want to think if you made X dollars, and she made nothing or next to nothing, or vice-versa, it would be advantageous to file jointly. But I would imagine that, as the two peoples yearly earnings get closer to one another that advantage would become smaller, until it makes more sense to file separately. So your saying even if you file separately and your married, if you itemize, she also has to? Or do you file jointly so you both have to itemize if one of you does? Yes even if you file seperate If one of you itemizes both of you do. When you are married you have to put the social of your spouse on your return regardless of filing status. They use that to cross reference. As far as it costing you more, there are less deductions for two married people in one household than 2 unmarried people. That is what you hear about when they talk about tax reform and use the term marriage penalty, Quote Link to comment Share on other sites More sharing options...
OGRE Posted October 22, 2004 Report Share Posted October 22, 2004 We Itemize, and have always did our taxes both ways to see which would net us more money and every time we ended up with about $50-100 more on our retrurn then if separate, typical return for us is $700-800. Quote Link to comment Share on other sites More sharing options...
BloodRed Posted October 22, 2004 Report Share Posted October 22, 2004 To answer most of your problems, you people need to either use Turbo Tax or go to H&R Block. Each person will have a different result. If you are married and you file speratly, you both must match in how you itemize. If you do not itemize your taxes and you are married, you basically won't change how much you will get filing married filing jointly or filing seperatly. And for the person that is getting married in November. It is not what your status is for most of the year, it is what your status is on December 31. If you happen to have a kid on December 31, yeap you get to take the deduction for the whole year. Works the same on your marriage status. Quote Link to comment Share on other sites More sharing options...
nathan Posted October 22, 2004 Report Share Posted October 22, 2004 He can still file separately though, that is always an option. The marriage penalty is that the standard deduction is not twice that of the single rate. However, the married filing separately is exactly half of the married filing jointly deduction. Taking your taxes to HR Block will not help you get anymore money, there are just not magic dollars there, and if you get audited, YOU are responsible even if you have no clue how the person got you your refund. Make lots of donations (clothes, furniture etc) after you get married and claim them to help offset costs. We always got refunds when single, but the key is to just take no allowances after you get married, that will kill your refund, my wife thought it was supposed to be 1 on her W9, and it so not enough was withheld. If you know someone who is a CPA they could figure out exact amount to withhold for the year based on wages and deductions, otherwise take more out, then get it back in March/April, that is the magic money! Quote Link to comment Share on other sites More sharing options...
Tractor Posted October 22, 2004 Report Share Posted October 22, 2004 ^^^ right on. I always do mine both ways and for me there usually isn't much diference. Hopefully this year I'm n the plus side though. Evan Quote Link to comment Share on other sites More sharing options...
BiG BeN Posted October 22, 2004 Report Share Posted October 22, 2004 i got back 8k in taxes filing seperate.woulda been 11k if we filed joint,but she had no income so i don't know how the hell that works.plus i couldn't get her to sign without a cut so i lost the benefit. Quote Link to comment Share on other sites More sharing options...
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