 My boyfriend makes about 39k annually, will he get more this year for claiming me if we're married? |
| And how will that affect our child tax credit for our two kids, because i don't have an income?... |
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 Is "Cancelled Debt" Income subject to Self-Employment Tax? |
Additional Details
This was a personal loan. Both my husband & I were self-employed at the time. However, this was a personal loan from my father-in-law (Before anybody jumps on ... |
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 Pan Pan Peanut Butter, I feel that it is not right to just throw the jar away without? |
| some type of reimbursement. It is like throwing money away and I am not that rich where I can throw money away. I purchased the jar at the Ft Sill Commissary. I purchase peter pan peanut butter on a ... |
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 Independent tax preparer? |
| Can one take the tax prep classes from H&R Block or Jackson Hewitt and, instead of working for them preparing returns, start up a tax prep business of their own? Is there a commitment to these ... |
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 Any site for tax return? |
| may be return for my ... |
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 If work exspenses are tax deductible, can I claim gas money? |
Additional Details
gas is an expense, that I wouldnt need except for ... |
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 Who can garnish tax return? |
| can unpaid court fees be taken from tax return?... |
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| What is the benefit of income tax? |
benefit of the income tax and it's advantage to us
Additional Details
Where can I get more information about the benefit of income ... |
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 Can you get in trouble if you file your taxes as single but you are actually married? |
If the IRS finds out, would you be subject to owe anything? What would happen to someone that has done this for up to 15 years? He lives in Texas and for the last 5 years has worked in Oklahoma.
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 Would Americans be willing to pay a high gas tax instead of Income Tax? |
| A high gas tax would be an incentive to conserve gas and oil. THis would help kick our dangerous oil addiction and total dependence on very unstable and nations that hate us. So would you welcome a ... |
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 My wife and I both claim zero on our taxes yet we will owe $2,600...why? |
| Ok, so, last year we both claimed 2 and ended up owing $3,000 in state and federal tax combined. So we immediately changed our withholding to zero for state and federal. However, looking at our ... |
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 Should I file my own taxes online? |
Hi all, im not sure if I should go to Hrblock to do my taxes this year, as I have done in the past. I dont have any dependents and my wife and I claim married 0 all year.
Should I keep going to ... |
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 Can I claime my niece on my taxes? |
Can i claime my niece she was born today. my sister have not work for a whole year and would like for me to claime her on my taxes since she does not work. will this be a problem?
Additional D... |
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 So is not putting 2p on petrol going to help the poor working people of the UK? |
| After it's gone up by 30p in the last two years! the idiots in this Government are far as far removed from day to day life for the majority as it's possible to be!... |
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Sarena M | Should I claim dependents? I currently claim 0 but...? |
My husband and I both work full time. We have 2 children. Currently, both of us claim 0 dependents. I thought I read somewhere that the person who makes the largest salary should claim the least amount of dependents possible, and the one with the lowest should claim as many as possible. If I do that, it will cover the cost of my family's insurance. Should we still be covered tax wise? I don't want to owe taxes when it's all said and done. |
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Mariska
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I typically think that a good general rule is for the higher salary to claim married 2, and the lesser salary to claim zero. Then (assuming you don't have alot of other income) you increase the larger earner's take home but still get something back.
If you do it the reverse (as you propose), leaving the higher salary at zero & increase the lower salary you will probably be ok.
Do it now since it's already Oct. & it won't effect your tax return for this year much since it's near the end of the year. Then when you do your taxes (in Feb. hopefully) you can adjust accordingly. |
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wildand5150
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You can claim the dependents and have less money withheld from your checks, and still receive a refund at the end of the year. |
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extra_37
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The highest salary should claim 2, if no other deductions. The lowest claim 0. If at the end of the year, you still have a large refund (over $500) then one of you should up theirs. The ideal situation is between owing $100 and a refund of $100. No point in ginving the US Gov't an interest free loan for 12 months when you could use that money to fund savings etc. |
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neon49
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Your taxes will be determined by a few things. 1)how much money you make 2)the number of exemptions you claim . In order to receive the most back at the end of the year, you have to withhold at the highest rate on your w-4, which is single 0, and then claim the most as possible on your 1040 at the end of the year. Just to set your mind at ease, the important is the return at the end of the year. The w-4 is mostly just a guide used so that employers know how much they should withhold from your check throughout the year.
In other words if you report your w-4 and 1040 identically, you should just about break even. Get your hands on the circular e for 2006 to calculate exactly what you owe. |
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STEVEN F
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The CPA gave the best answer so far. You may want to check out the Withholding Calculator on the IRS website. It is designed to help determine the best number of exemptions to claim on your W-4s. |
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purefire41
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each of you claim one............and since you ll still have two to spare.(you and he) that is for tax purposes.......you ll be ok......when you do your taxes this year..........voice that question in depth to your preparer.........so they can show you on a computer......expected taxes.....for the coming year ahead......and then decide which looks best in your situation.........HR Block is sooooooooo good for doind that.......been there......they helped me a lot in it. |
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dwh12345
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Depends on how many deductions you have..If you have a lot claim more dependents |
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Phoenix, Wise Guru
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You should not be paying the government extra money up front. If you are concerned about having to pay taxes at the end of the year, rather than paying more from each paycheck, put that money in a savings account and earn interest on it. You are basically giving the gov. a loan for free. Better to take out the free loan from the gov., make money on your money, and pay more in taxes in April. Your plan of the lowest earner claiming the dependents sounds like a great idea. |
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