(Closed) Public Service Reminder – remember the IRS counts you married for . , ,

posted 7 years ago in Legal
Post # 3
Member
491 posts
Helper bee
  • Wedding: September 2011

@unixfairy: This is great information and it was something we were curious about. We do currently have a joint checking account (because we live together for some time and it’s easier to pay our bills that way). However, we don’t make a HUGE salary per year. Honestly, the 2 of us combined, we might be at about $58k a year. Could you give me some of the websites that you used to try this out, so I could do the same thing.

I was always told that sometimes if you file joint married you get a better tax break and sometimes it turns around and bites you in the ass.

Thanks:)

Post # 4
Member
3166 posts
Sugar bee
  • Wedding: October 2011

::worried face:: yes, references please!

Post # 5
Member
296 posts
Helper bee
  • Wedding: May 2011

Thanks, that is something to look into!

Post # 6
Member
11325 posts
Sugar Beekeeper
  • Wedding: February 2011

If you’re going to be penalized for filing together you could file as married but filing separately to save some $$ 🙂

Post # 7
Member
7779 posts
Bumble Beekeeper

I think this depends on how much you make, honestly. Darling Husband and I together made like… well, not very much and we got a MUCH bigger refund filing jointly.

Post # 8
Member
1077 posts
Bumble bee
  • Wedding: April 2011

@unixfairy:  I was ready for the big tax hit we’re about to get.  I didn’t realize that it applied to the whole year.  I figured we’d need help from an accountant this year.

Post # 9
Member
829 posts
Busy bee
  • Wedding: August 2011

I always heard you were taxed less when you were married??

Post # 9
Member
2398 posts
Buzzing bee
  • Wedding: April 2010

Every couple is different, and tax burdens will vary greatly depending on where you live, what you make, etc.

There’s really no one-size-fits-all rule.

 

Post # 10
Member
225 posts
Helper bee
  • Wedding: March 2011

per IRS, you will generally pay more using married filing separately than another status. the rate is higher, you are automatically disqualified for a ton of credits, etc. See IRS publication 17 for details.

if you DO want to use MFS for some reason in spite of the info above, at least make sure to double check if one of you could be head of household.

 

Post # 12
Member
225 posts
Helper bee
  • Wedding: March 2011

@unixfairy: totally right on HOH, I apologize for my typo!

ugh. taxes.

Post # 13
Member
570 posts
Busy bee
  • Wedding: July 2012

@unixfairy:

for 2010 year we had to file married but seperately I would have ended up with $1000 the total that my job takes out from each check so it is basically all mine the IRS never gives me anything back all I get back is the additional $100 I take out monthly from each check.

Than our tax preparer did the married filing jointly and we received and additional $2000 mine you that we both make 2 digit figures in the middle class sector.

Post # 14
Member
47 posts
Newbee
  • Wedding: June 2012

@CorgiTales: Not really. My accountant told us that filing married but seperately puts you in the highest possible tax bracket.

Post # 15
Member
1995 posts
Buzzing bee
  • Wedding: June 2010

I have to say we had zero trouble with this.  I’m not sure of the details but we were prepared for a big hit this past tax season since we married in 2010.  We filed jointly and had all those worries for nothing.  We got a huge refund and had nothing to worry about.  We both were making around the same amount.  We used turbo tax and considered all the possiblilties since it auto calculates everything each time you switch what you’d like to file as – we could compare instantly.  For us filing jointly married was the best option. 

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