Post # 1
Mrs. Bee and I combined our finances pretty early on (right after she moved in).
We have all of our bills on autopay, so our daily finances aren’t that big a deal. But taxes are a lot trickier… so one of us has to take the
bullet lead on that.
In our household, that person is me! My brother (BIL Bee) helps a lot with Weddingbee’s accounting, which is a huge help (by help I mean, I couldn’t do it without him). But between Mrs. Bee and I, I tend to end up crunching the numbers. I don’t think we ever talked about – I just always did my taxes, and then when we started filing jointly… it wasn’t that hard to add a few more line items.
This year is the first year we had an accountant help out. But actually, it hasn’t been much easier… we still have to dig up all those old records anyway, and input it Excel and QuickBook. Ugh I can’t wait for tax season to be over!
What about you: have you guys combined your finances? And who does (each of) your taxes… you, your SO, or your accountant?
Post # 3
We combined finances partially when we moved in together (before we were even engaged) and then combined totally after the wedding (keeping our own seperate credit cards).
Before we were married we each did our own. I had my return by mid-February, while my husband (then FI) waited until the last minute.
So this year, when we were going to file jointly, I took the lead.
We did go to H&R block since our taxes were unusually complicated this year (first time filing jointly, my FI was self-employed part of the year, etc.)
Post # 4
We do everything separately. I’m embarrassed to admit this, but my dad’s accountant still does my taxes. We were talking about this the other day, and FI and I agreed that this will be my job next year, so I can learn, and that he’ll help.
Post # 5
Taye – Don’t worry … I still have my dad (who isn’t an accountant!) do my taxes, since they are still very simple and we can do it on turbotax. We decided to stay separate for 2008 but plan to file joint for 2009. My fiance has an accountant and finacnial advisor who does all that for him. We have met with him together a few times, he’s awesome. He said that since I’m fairly "easy" he will most likely just add my income next year and it shuld be fairly easy. But we are both all about getting early returns, we both had ours by February.
Post # 6
We used to individually do our taxes, I always did mine myself and a couple years I did his. But, things are slowly getting more complicated with our home purchase and all, so now we just have our accountant do it. I agree, though, it sucks digging through all that old stuff still! We each dig out our own stuff and it’s worked out well.
I actually enjoy tax season, though, because of the REFUND!!! Plus, tax day is also my birthday, so tax season just means the b-day is nearing.
Post # 7
We actually completely combined finances almost 2 years ago when we bought a home together. It just makes sense and was natural. I mean I’m spending the rest of my life with this guy and we are a unit, why shouldn’t the money come from one source. We have joint checking & savings and no personal accounts. Again, we see no need for it.
Our accountant does our taxes and he’s actually really good about figuring out who’s the best one to claim what items so that we get the max refund. On a day to day basis I would say I take care more of the finances. Weekly budget, paying bills, etc.
Post # 8
My FI has a significant amount of money more than me saved up, so I want him to keep it separate, which means separate taxes because we keep our separate lifestyles for now. Even after we are married we might file separately. He is military and I am not, and that changes our status a lot. I got a ton of money back this year (thanks TaxSlayer!) and he didn’t (he didn’t pay any taxes while deployed). But, we also make a decent amount of money each, so even if we don’t combine it all, it ultimately comes out in the wash tax-wise.
Post # 9
My dad is my tax man since always, but when we get married, we’ll most likely combine our assets and file together. My FI does his own taxes, so he’ll do ours in the future.
Post # 10
I have my CPA, but definitely do NOT do taxes. DH usually ends up doing them on Turbo Tax. We run our numbers through turbo tax twice. Once as married filing separately and once as married filing to joint to see what the max benefit is.
Post # 11
I learned how to do my taxes from my accountant dad this year (sort of) I will defintiely be the one in charge of finances and filed taxes when we’re married–my fiance is clueless about it , and doesn’t want to be enlightened! He is very happy I was a busienss major and like to budget 🙂
Post # 12
- Wedding: September 2009 - Barr Mansion
I know this is a super-old thread, but I thought it was an interesting discussion!
We are in the process of combining finances right now, and it’s kind of hard! Not b/c we don’t want to, but because it’s changing the way we both think about the money each of of brings in. I think in the long run it’s going to make so much more sense for us to combine finances.
As for taxes, the Dude really enjoys doing them, so I always let him do mine. My mom’s a CPA so she’s always there if we have questions or need advice. This year will be a little more complicated since it’s our first year filing as married. We’re probably going to calculte it filing separately and filing jointly and see which one makes more sense, but I think it pretty much comes out to the same thing either way.
Post # 13
@mouse: You will probably end up paying more in taxes if you file seperately. It is best to file jointly in almost all situations.
I used to work at a CPA firm so I could do the taxes on my own. I have filled out my husband’s tax return for the past 3 years along with my own. My dad gave me a copy of Turbotax so I’m going to use that this year so that we can file online for free (we make too much for free file and our return is too complicated).
If any bees have tax questions, I’d be happy to help!