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Taxes spinoff - question for newlyweds.....
After the wedding did you change your status on your W4 at work? I didnt! I completely forgot until DHs co-worker asked him if he wanted it changed today. We got married in April.
Are there any benefits to filing married as opposed to single? Can we just leave everything as it is?
Forgive me but this is one topic I do not understand at all.
TIA!
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Posted 1/24/06 7:45 PM |
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Long Island Weddings
Long Island's Largest Bridal Resource |
neenie
Member since 5/05 22351 total posts
Name:
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Re: Taxes spinoff - question for newlyweds.....
i'm so confused too! i changed my status to married (though i still haven't changed my name on anything). But i'm not sure if its more beneficial to us to file joint or single returns
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Posted 1/24/06 7:48 PM |
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neenie
Member since 5/05 22351 total posts
Name:
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Re: Taxes spinoff - question for newlyweds.....
sorry- i just realized that i was absolutely NO help whatsoever. But, at least you know you're not alone
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Posted 1/24/06 7:48 PM |
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Redhead
You Live, You Learn
Member since 5/05 31871 total posts
Name: Jennifer
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Re: Taxes spinoff - question for newlyweds.....
i changed it... And i don't know if there are benefits to filing single as opposed to married if you do not own any real estate.
But for us, our tax guy ran the numbers married separately and together...We got more back filing separately
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Posted 1/24/06 7:52 PM |
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Redhead
You Live, You Learn
Member since 5/05 31871 total posts
Name: Jennifer
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Re: Taxes spinoff - question for newlyweds.....
but i honestly do not know how or why that was
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Posted 1/24/06 7:53 PM |
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charon54
My two boys!
Member since 5/05 7279 total posts
Name: Rebecca
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Re: Taxes spinoff - question for newlyweds.....
I still claim single (there's an option at my job to put married, but claim single). For me, it means that they take more money out now, but I get more later.
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Posted 1/24/06 7:53 PM |
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PrincessP
Big sister!!!!!!!!!!
Member since 12/05 17450 total posts
Name:
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Re: Taxes spinoff - question for newlyweds.....
I dont know why, what or how...but my brother is an accounting and I asked him this question for me and dh and he said that you cant file seperately. Aside from that he told me to get my social security in dh name very shortly for these purposes. FYI...I just bought a car in my maiden name and DMV wouldnt register my car after the 45 day temp bc they said my maiden name and married name was not the same person. I had to first go down with 6 points of identity (which is a hassle) to prove I am the same person. Its tough being a newley married woman!
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Posted 1/24/06 7:56 PM |
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Re: Taxes spinoff - question for newlyweds.....
Posted by charon54
I still claim single (there's an option at my job to put married, but claim single). For me, it means that they take more money out now, but I get more later.
I think Ive heard this before....I will ask my job tomorrow what to do.
Then I suppose no matter what our accountant can run the #s both ways and see.
Its twofold though - claiming and filing.....its so confusing I HATE this stuff!
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Posted 1/24/06 7:59 PM |
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Redhead
You Live, You Learn
Member since 5/05 31871 total posts
Name: Jennifer
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Re: Taxes spinoff - question for newlyweds.....
Posted by PrincessP
I dont know why, what or how...but my brother is an accounting and I asked him this question for me and dh and he said that you cant file seperately. Aside from that he told me to get my social security in dh name very shortly for these purposes. FYI...I just bought a car in my maiden name and DMV wouldnt register my car after the 45 day temp bc they said my maiden name and married name was not the same person. I had to first go down with 6 points of identity (which is a hassle) to prove I am the same person. Its tough being a newley married woman!
lots of people file separately...
I think that filing single as opposed to being married is risky but i even know people who do that since they do not have any shared real estate
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Posted 1/24/06 8:02 PM |
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PrincessP
Big sister!!!!!!!!!!
Member since 12/05 17450 total posts
Name:
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Re: Taxes spinoff - question for newlyweds.....
Like I said, I dont know why he told me this. Maybe its an individual decision based on my income or finances that he knows about. Maybe he thinks we cant file seprately because we dont own a home or some reason that we would benefit from filing together. Who knows. I asked him in regard to me and DH though. I will find out more info in regard to this when I see him and post.
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Posted 1/24/06 8:08 PM |
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baghag
:P
Member since 5/05 10278 total posts
Name:
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Re: Taxes spinoff - question for newlyweds.....
I changed my pay status to married. I thought you legally had to? I noticed that I got more $ each check, from less taxes being taken out.
I don't know if it would be better to file married together, or married separate. We will try both ways and see which is better. I didn't know you could file single after you were married.
This stuff is so confusing.
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Posted 1/24/06 8:35 PM |
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traceyd
Big Sister to Be!
Member since 5/05 3644 total posts
Name: Tracey
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Re: Taxes spinoff - question for newlyweds.....
Posted by charon54
I still claim single (there's an option at my job to put married, but claim single). For me, it means that they take more money out now, but I get more later.
That is what I did as well-I'd rather they owe me money at the end of the year than having to pay them.
Also my accountant last year told me that the first year you file after you are married there is some kind of marriage penalty-not sure what that exactly means though!
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Posted 1/25/06 7:37 PM |
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MommyofG
just the girls
Member since 5/05 9461 total posts
Name: Janice
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Re: Taxes spinoff - question for newlyweds.....
Ours is a bit more complicated DH has a w4 and a 1099 and so will I for 2005. this year will be different , so we will be getting a w9 and a 1099, we can def file separately too. we will go with what is best for us to get back as much as possible. Our accountant will work it out for us.
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Posted 1/25/06 8:02 PM |
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