Jason the Magnificent
Posting Freak
Posts: 3880
Registered: 8-2-2003
Member Is Offline
|
|
Speaking of taxes, married folks.
How do you guys file? Married jointly or seperately?
I'm getting hitched in Apr and the tax thread got me thinking how my filing is going to change.
|
|
|
BDx13
|
|
we continued to file seperately for a few years because with my freelance work, it worked out better that way. the first year it DIDN'T, we switched
over to filing joint and have done so every year since.
my recollection is that you can keep doing seperate until the first time you do joint, then there's no going back. not sure how accurate that is,
though.
the child tax credit was a nice bonus, and i'm anxious to see how owning a house effects things this year.
If I fail math, there goes my chance at a good job and a happy life full of hard work.
|
|
|
stateofdisgrace
Senior Member
Posts: 734
Registered: 9-7-2005
Location: NYC
Member Is Offline
Mood: Kill Your Idols, H2O and Eminem
|
|
My "girl" and I file separately every year. She claims the kids since she makes under 30G a year. It was more when my step daughter was claimable (now
she's 25, not allowed).
Filing separately seems beneficial when you have:
a) kids she can claim
b) property you can claim
c) if your tax status on your pay is single. if you file married all year, it makes no sense to later file for single status....
just my thoughts.....
|
|
|
Voodoobillyman
The Artist Formerly Known As...
Posts: 4247
Registered: 8-12-2005
Location: Eastern Seaboard of the United States
Member Is Offline
Mood: my daughters beautiful curiousity
|
|
married and jointly, and yes that child tax credit is a big help right after the holidays. the house thing is pretty good too but I think it takes a
bit to really become worthwhile. My property tax just went up 50 bux a month which of course jacks up your mortgage payment. watch out for that, I
didn't get any warning from the city until I received my annual property assessment about a month later.
|
|
|
stateofdisgrace
Senior Member
Posts: 734
Registered: 9-7-2005
Location: NYC
Member Is Offline
Mood: Kill Your Idols, H2O and Eminem
|
|
Voodoo,
I pay the taxes myself, so I don't have any surprises later on. The state/city usually sends you the increase notice directly. When your mortgage co.
pays it, the letter goes to them and then surprise! Mortgage went up!
|
|
|
Voodoobillyman
The Artist Formerly Known As...
Posts: 4247
Registered: 8-12-2005
Location: Eastern Seaboard of the United States
Member Is Offline
Mood: my daughters beautiful curiousity
|
|
| Quote: | Originally posted by stateofdisgrace
Voodoo,
I pay the taxes myself, so I don't have any surprises later on. The state/city usually sends you the increase notice directly. When your mortgage co.
pays it, the letter goes to them and then surprise! Mortgage went up! |
Thanks for the heads up, I will have to look into taking these payments on myself, the shit just went down way to quick and shady for my tastes.
|
|
|
BDx13
|
|
voodoo, you can appeal your assessment. the previous owner of my house did that, and we're currently paying about a thousand dollars less a year than
our neighbors.
http://money.cnn.com/2003/03/31/pf/yourhome/homeguide_proper...
http://www.businessweek.com/magazine/content/03_05/b3818133....
http://www.ricedelman.com/planning/taxes/propertytax.asp
If I fail math, there goes my chance at a good job and a happy life full of hard work.
|
|
|
stateofdisgrace
Senior Member
Posts: 734
Registered: 9-7-2005
Location: NYC
Member Is Offline
Mood: Kill Your Idols, H2O and Eminem
|
|
Interesting BD...thanks
|
|
|
CR83
Moderator
Posts: 5221
Registered: 1-23-2004
Location: STL!
Member Is Offline
Mood: Harm's Way
|
|
We file together and get fucked on day care and the child credit because of our "bracket". We lost big time this year. A CFO friend does our taxes
for us.
The downside is we could make less money and not pay as much in taxes. Upside, we are very fortunate people that we can afford the taxes we pay. The
other way we try and feed the Karma Machine is we donate lots of time and money to charities in our community.
|
|
|
DaveMoral
Posting Freak
Posts: 4334
Registered: 1-24-2006
Location: Ardmore PA
Member Is Offline
|
|
We filed together and all... but being an independent contractor I don't have W2s and I don't save for tax time... so I'm a tad bit behind.
|
|
|
moron
Posting Freak
Posts: 2393
Registered: 5-28-2003
Location: CT
Member Is Offline
|
|
We filed jointly, and Im not sure if it benefited us or not. We have no kids, don't own a home, blah blah so I dont think we got anything more than
the standard deduction anyway.
|
|
|
![[*]](images/thorp/default_icon.gif){kind=icon}
