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Kristin J | Living Together with baby...? |
My boyfriend and I live together with our 5 month daughter.
He is aa independent contractor - he makes a percentage of his jobs so his salary is in flux. He generally does not have alot to claim at the end of the year. I have a full time job and make $48,000. What is the best way for us to file and claim the baby? |
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ninasgramma
 |
If you pay for over half the costs of maintaining your home, you can file as Head of Household and claim the child. Your tax would be $3,446.
If the father claims the child, you must file as single and claim only yourself. Your tax would be $6,239.
The difference to you is $2,793. A self-employed person is not going to get that much of a refund even with the maximum EIC. Furthermore, a self-employed person who claims a child still does not reduce his self-employment taxes.
So, you file as head of household, claim your child, and minimize your taxes. |
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taximomuv3
 |
Work the figures both ways and see which is more beneficial. Without knowing how much he made or paid in it's impossible to tell you which is best. If he is an independent contractor, is he filing a schedule c and claiming any business expenses? If not, he should check into that unless he is technically an employee who is working on commission and receives a w2 at the end of the year instead of a 1099 as a contractor would. |
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bmwguy1488
 |
If you make more then him then you should claim head of house hold and the baby.. you will get more money back...
Go to
turbotax.com
and you can find out how much you will get back and him |
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Judy1
|
No way to tell for sure without more info on his total earnings for the year. Figure it both ways and see which has you paying less tax overall. Either one of you is allowed to claim the baby, but not both in the same year. If the one who claims the baby also provides over half of the expenses of supporting the household for the year, that person can file as head of household. |
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stephenweinstein
 |
The best way might have been to get married in December and file jointly; however, it is too late now. (You cannot file jointly if you were not married by the end of the year.)
There are essentially two options. Fill out the forms each way and see which gives a larger combined refund (or smaller combined payment due):
a. You file as head of household and claim the child; he files as single and does not claim the child.
b. He files as head of household and claims the child; you file as single and does not claim the child.
Be sure to consider the Earned Income Credit in your calculations. |
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Jackie P
|
Me, I suggest going to a CPA to have your taxes done!
The money you pay them, is worth every red cent.
Our tax system is so complicated, it makes me crazy. |
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American Women
|
You should claim the baby. Both of you can't, you make more so you would be more likely to get more back. Your boyfriend should get all of his back if he filed correctly. I know my boyfriend and I let whoever made more for the year claim our daughter. |
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Phil the Yahoo! Answers Master
|
ask a counselor. |
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oopiedoopiegirl
|
File separately. Whoever has the lowest income should claim head of household. Whoever qualifies for earned income credit should claim the baby |
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