Haircut options... what to do
more by serabell
Products that don't test on animals?
Budget Friendly Wedding Help
more in Money
Which bank is best???
PhotoBooth Help
more in Boards
OMG Four Weddings called me!

NWR Taxes: Married filing jointly or seperately?

posted 3 months ago in Money
  •  
    1.
    Member
    2,583 posts
    Sugar bee
    serabell    May 22, 2010   Oregon

    So last year DH & I filed as "married filing jointly" & we got a pretty big tax refund back. This year, we were expecting to get money back again, but DH had a temporary job earlier in the year & they took out SS, state, etc taxes, but NOT fed taxes :(. So now we'll owe about $150 in taxes. Last night I tried "married filing seperately" & we owe $11 instead, filing that way. Does it matter if over the years we switch between filing jointly & seperately? Does it change your taxes if you try a different way?

     
    2.
    Member
    31 posts
    Newbee
    Mrs. Halloween    November 10, 2012   Albany, NY

    You should ask an accountant. I am not an accountant but I did just talk to mine about this situation.

    Married filing jointly couples TYPICALLY get more tax advantages (e.g. bigger standard deduction, more allowable deductions, etc.) but sometimes filing seperately works out better for the couple becuase of some unusual circumstance.

    Many accountants will do what you did - they have software that automatically runs all the numbers both filing jointly and filing seperately to see which is better.

    Good luck!

     
    3.
    Member
    895 posts
    Busy bee
    bigcitybee    November 1, 2014   New York City

    I have heard that filing separately saves $$ that would otherwise be thrown away in taxes.

    So sick of being taxed, taxed, taxed! And why on earth should a married couple be 'penalized' with higher taxes for filing together? Ludicrous...

    (Sorry for my mini rant)

     
    4.
    Member
    2,491 posts
    Buzzing bee
    Sassygrn    June 4, 2011   Minnesota

    We filed married by seperately and got a hell of lot more money back with deductions.  My DH is an accountant...

     
    5.
    Member
    400 posts
    Helper bee
    crystlrox    July 16, 2011   Bermuda

    Each year you can decide to file as MFJ or MFS. The returns may/ will come out differently based on income, etc. File the one that works best for you!! I'm a CPA!!

     
    6.
    Member
    847 posts
    Busy bee
    SubmarinersBride    June 16, 2012  

    Agree with Crystlrox.  Switching is allowed.  I did see one couple that did it, and had an issue with AMT switching back and forth (can't remember exact details, but it got into stocks and bonds and multiple year stuff), but with the values you posted, I can't see it being an issue.

     

    Reply

    You must log in to post.





    Visit our sister sites eHarmony
    Online Dating
    eHarmony Advice
    Dating Advice
    Project Wedding
    Wedding Songs
    JustMommies
    Pregnancy Calendar
    Copyright 2004-2012, Weddingbee.com
     

    Find your vendors on Weddingbee

    Real reviews from brides in your area!

    Favors by Weddingbee

    • Favors by season

    Shop Now ยป

    Find Registry Find Registry Find Registry

    More
    User Posts Today
    ndreighton 11
    rivierabridal 6
    kate02121 4
    bonkeyball3 4
    turtles73 4
    jaguar 3
    BMORE SEXI 3
    texasbee 3
    MrsOliveBird 2
    fresitachulita 2

    Money

    User Posts Today
    Rivendeler 1
    rivierabridal 1
    More