Filing Taxes

IrishBride-05 Posted: Jan 26, 2006 10:07 AM

Filing Taxes

I always do my own taxes and was planning on doing them again this year - first one as a married couple.

If one partner earns 2X more than the other, what option do you pick - married, filing separately or married, filing jointly. Which will get us the bigger refund???

BHW Posted: Jan 26, 2006 10:30 AM

Re: Filing Taxes

From what I've heard, it's almost always better to filed married joint than married separate.

IrishBride-05 Posted: Jan 26, 2006 10:40 AM

Re: Filing Taxes

Posted by BHW

From what I've heard, it's almost always better to filed married joint than married separate.

Thanks. I'm so confused. I just read advice on MSN that said to file separately. I think I'll be going to an accountant this year.

FallBride05 Posted: Jan 26, 2006 10:49 AM

Re: Filing Taxes

my DH who is VERY SMART about these types of things, says we should definately file jointly (he makes almost 4x as much as me) and we should get a bigger refund that way.

snowprincess805 Posted: Jan 26, 2006 10:59 AM

Re: Filing Taxes

especially now- file jointly - there used to be what was called a marriage penalty for 2 earners - but that is gone as of this year because it became such a common thing and necessary

BHW Posted: Jan 26, 2006 11:18 AM

Re: Filing Taxes

IrishBride-05 Posted: Jan 26, 2006 11:59 AM

Re: Filing Taxes

Great! Thanks everyone. We'll be filing jointly then! It's always best to get advice first-hand

Beth1210 Posted: Jan 26, 2006 12:34 PM

Re: Filing Taxes

I was going to file separtly- mostly b/c Jake ususally writes off everything b/c owns a business- but now I don't know what to do

I am going to use an accountant this year-

Blu-ize Posted: Jan 26, 2006 12:51 PM

Re: Filing Taxes

I always use an accountant. We both have W2 income and 1099 income and own a house-another one soon too. We write off as much as we can of course, but each year our accountant does a quick analysis and determines that married filing jointly is the way to go.

I would rather pay someone to make sure it's right.

Been audited..not fun

Beth1210 Posted: Jan 26, 2006 12:58 PM

Re: Filing Taxes

I have W2 and 1099 also- I am going to need help!

normally mine is pretty easy- just W2- but Jake closed a loan in my name this summer- but I least I get to write stuff off on that