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How do we file our taxes?!

posted 1 year ago in Legal
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    1.
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    Bumble bee
    Toffee    January 15, 2011   Hayden, Id

    I just got a job (Woot!) and I'm trying to fill out the deductions/adjustments worksheet in time for my first shift this weekend. If we are getting married in January, how do I fill out my paper? Do we file together even though we have only been married a few months by the time the taxes are due? I have been thinking about this all day long, so please help!

     
    2.
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    Busy bee
    sudslover       Northern California

    Your 2010 taxes (due April 15, 2011) will be filed under "single" status.  Your 2011 taxes will be filed under married/joint status.  Themore deductions you take the less they take out for taxes.

     
    3.
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    Bumble bee
    Toffee    January 15, 2011   Hayden, Id

    I guess I'm just confused because we will be married for part of the year (exactly 1/4).

     
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    Wannabee
    yankees21    July 9, 2011   Omaha, NE

    Your filing status is dependent on if you are married on the last day of the year. For 2010 taxes, you will be single, and 2011 taxes you will be married. It doesn't matter when during the year you get married, as long as you are married December 31st.

     
    5.
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    Busy bee
    sudslover       Northern California

    Your date showed January 2011 so I thought that was your wedding date.  Sorry.  If you were married one day in 2010, you will file joint in 2010.  It's like if you have a baby on Dec. 31, you claim them as a dependent for the year they were born.

     
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    Helper bee
    oakster    June 26, 2010   SF East Bay

    I think the part that may be confusing is that the taxes you pay on April 15, 2011 don't cover January 1-April 15, 2011---they're only for the 2010 calendar year. (They just give you four months to get all of the paperwork together before you file.) So you file as single unless you got married during 2010. You can change your deductions in January, too, so for now you should just deduct based on filing as single.

     
    7.
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    Bumble bee
    Toffee    January 15, 2011   Hayden, Id

    Thanks gals, I looked it up and you are correct on the marriage rules. And thank you oakster for clearing up the deductions part for me too. That was the biggest thing I was worried about. Alright, so now I know how to fill it out and how to file this year. One thing they were really big on was making sure to check how filing separately while married and filing jointly would affect your refund amount. Sometimes one can give you more than the other.

     
    8.
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    Helper bee
    oakster    June 26, 2010   SF East Bay

    We're in the middle of looking into the deductions setup too, and they actually have a third option, which is to file a joint married return but deduct as though you're still single. For us, this was the smartest option to make sure we didn't trigger penalties for underpaying, but I imagine it depends on whether you both work and how much you make respectively. We benefit a lot by filing jointly rather than separately because we have a mortgage and student loans, so it ends up being better to count that all against our combined incomes. But it's different for everyone. For most people there's no longer a "marriage penalty" to filing jointly, though---Congress has slowly been correcting that in the tax code, so for most people it's better or comparable to file jointly now (with some exceptions for specific income or asset combos).

    Good luck---it can definitely be confusing!!

     
    9.
    Hostess
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    Honey bee
    caszos    June 2010   Florida

    Oakster has some great comments and I agree they are all correct! 

     

     

     
    10.
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    Bumble bee
    JsDragonfly    December 29, 2009  

    Yep...you file together, trust me on that one. lol  We were married Dec. 29th, 2009.  And even though we were only married for 2 days in 2009, we still had to file as married.  We chose to file jointly because it worked out that we would get a better refund that way, but you can still file separately...just have to indicate that you are married.

     

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