Now that we're married, DH and I will file jointly this year. Does that help get us more money back, or will it make it worse for us? Should we file separately? Can you even do that?
mskittynj
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Re: Filing Taxes as a Married Couple
That's a great question I was wondering the same thing. The best thing to do is to talk to your accountant or if anyone is an accountant here maybe they can answer us... XOXOXO Kitty
cindyandkevin
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Re: Filing Taxes as a Married Couple
I believe that a married couple HAS to file jointly, at least that's what my accountant told us last year. It ended up working better for us than if we weren't married and had filed separately anyway.
SusiBtoM
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Re: Filing Taxes as a Married Couple
Our accountant told us that for 2007 year he will will do separate returns for us as 'married filing separately', since we were single for most of the year. For the tax year 2008 we will file a joint return.
PeteysBride
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Re: Filing Taxes as a Married Couple
Posted by SusiBtoM
Our accountant told us that for 2007 year he will will do separate returns for us as 'married filing separately', since we were single for most of the year. For the tax year 2008 we will file a joint return.
Hmm I might try to do this. I know when I started my new job they told me to list myself as single so i got extra taken out from my checks simply because I work in NY but live in NJ so I get taxed by NY but have to pay NJ taxes as well.
ali120206
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Re: Filing Taxes as a Married Couple
You can either file jointly or as married filing separately.
In some cases it works out better to file jointly and in others, it works out better to file separately. If you go to a tax preparer, they should be able to tell you what is best for your financial situation. If you are doing them yourself with Turbo Tax, they tell you what's the best option for you.
We ended up filing jointly last year - I believe it had something to do with DH being in the FDNY where he has to pay a tax based on our combined income (since we're non NYC residents).
reenielady
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Re: Filing Taxes as a Married Couple
You have to file as married, there is an option of filing jointly or separately. You should ask your accountant to determine which way is more beneficial. Usually jointly is more beneficial unless someone has unusually high medical expenses or miscellaneous deductions.
acsm
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Re: Filing Taxes as a Married Couple
you can do either or..
everyones situation will be different so its best to ask your accountant or as PP wrote, if doing them in turbo tax or similar program run both scenarios..
all is driven by salary, itemized deductions and so on... combining them can help reduce taxes or sometimes it may not..
i'd have them try both to be safe..
stonepondbabe
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Re: Filing Taxes as a Married Couple
We did a preliminary return in TurboTax just to feel out which would be better. W don't have an accountant :(
GettinHutched
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Re: Filing Taxes as a Married Couple
I was planning on posting about this too!
When I went to change my name in payroll, they said I didn't even have to change my filing status from single. So I didn't! I wonder if I should next year...
DH refuses to use a tax preparer since he's an accountant- though he is NOT a tax accountant. He thinks he knows it all but I'm sure he's missing plenty because it's not his thing.
leafgirl
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Re: Filing Taxes as a Married Couple
I do believe it's better to file joint than married seperate. Especially if you own something together. My accountant advised me to file together this upcoming tax return for 08. But I do believe you get a marriage penalty or something too. Which stinks.
Future Mrs.
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Re: Filing Taxes as a Married Couple
You can file either as a married couple, OR as a married couple filing separately.
You choose which one depending on your income. If together, you make over a certain amount of money, you might want to consider filing as a 'married couple filing separately' to get a better tax break.
A good accoutant will be able to educate you further and advise you on how to file.
Good Luck!
Jennifer907
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Re: Filing Taxes as a Married Couple
Posted by GettinHutched
I was planning on posting about this too!
When I went to change my name in payroll, they said I didn't even have to change my filing status from single. So I didn't! I wonder if I should next year...
DH refuses to use a tax preparer since he's an accountant- though he is NOT a tax accountant. He thinks he knows it all but I'm sure he's missing plenty because it's not his thing.
That's funny because DHs company said he HAD to change to Married. But there's a category on the W4 for Married but claiming single 0 or something like that. That's what we both did. Take the money now. I want a big check after the new year!
luvmyhoney
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Re: Filing Taxes as a Married Couple
it depends on your salary and your deductions. Like you don't own anything(like myself) you don't get as much back. So being that my DH and I make good money but don't own anything yet we will be filing seperately this year. You do have the option on your tax forms even if you have changed your name. That was the reason I wasn't going to change mine until the new year but I called me tax guy and he said I would be fine. Fingers crossed!
