I need income tax help from you smart, married people....

[CharlieMac]

Okay, you don't have to be smart. Or married.

I don't know what I should do or how to file. I've always done my taxes myself, but it's all complicated now with the marriage and such.

Here's the deal. I got married tis past July so now I don't know what option to take. Do I file married jointly or seperately? I'm a full time student, and I didn'y make more than 5000 in 2005. The wife does it all. She works full time and pays pretty much everything. Can she claim me as a dependant? Should she claim head of household? If so, do I still have to file a tax return?

We just bought a house and a car and so on. Aside from the 1098, do I need to wait on any other forms? How do I know what taxes I paid in 2005?

Should I just suck it up and go to HR Block and get charged up the ass to make sure it's done right?

General sage-like advice would be much appreciated.

[desflood]

Go to hrblock.com. File married filing jointly and list her as head of household. Then, just enter the info they ask you for. It'll all be pretty simple. They only charge $29.95, hardly up the ass.

[CharlieMac]

Go to hrblock.com. File married filing jointly and list her as head of household. Then, just enter the info they ask you for. It'll all be pretty simple. They only charge $29.95, hardly up the ass.

Well, I was using the free link that irs.gov has and was using Turbo Tax. But I just dont know if it's better to file jointly or seperately.

[sa_butta]

Go to hrblock.com. File married filing jointly and list her as head of household. Then, just enter the info they ask you for. It'll all be pretty simple. They only charge $29.95, hardly up the ass.The only time they really stick it to ya is if you want a rapid refund, because of all the bank loan charges.

[SpursWoman]

It's usually more beneficial to file Married filing jointly (you can't do Head of Household also, it's one or the other and you're not a qualified dependent...you're her husband :lol )

Wherever you earned the $5,000 or whatever, you should be getting/have gotten either a 1099 or a W2. I highly recommend Turbotax.com ... it's super-easy and walks you through every step. Yours doesn't sound very complicated like anything you'd need to pay to have done. Mess around with Turbotax (it's free until you're ready to file) before you spend any money.

:)

[sa_butta]

Spurswoman to start charging for tax advice??:lol
I think I already owe you.

[SpursWoman]

Nah ... I'm not licenced, yet. :lol

[sa_butta]

Nah ... I'm not licenced, yet. :lolWhen you are Ill be your first customer.

[CharlieMac]

It's usually more beneficial to file Married filing jointly (you can't do Head of Household also, it's one or the other and you're not a qualified dependent...you're her husband :lol )

Wherever you earned the $5,000 or whatever, you should be getting/have gotten either a 1099 or a W2. I highly recommend Turbotax.com ... it's super-easy and walks you through every step. Yours doesn't sound very complicated like anything you'd need to pay to have done. Mess around with Turbotax (it's free until you're ready to file) before you spend any money.

:)

I want to say I was kidding about the dependant question, but damn....I meant it. :lol

Am I supposed to get a form that says what we paid in property taxes this year? We only have the one that says the interest from the lender.

[Shelly]

I don't think you report property taxes. You just get a bill from Sylvia.

Listen to SW. She's one smart cookie!

[ObiwanGinobili]

SW just said basicly what I was gonna say.

also if you're married you can;t file head of household unless oyu are "considered unmarried" that is seperated and your spouse has not lived with you the last 6 months.

your best bet is Married filing Jointly. there is not penatly for filing jointly anymore. actually the standard deduaction is now $10,000 so WTG on getting hitched!! :tu

and turbotax.com is super easy and super awesome.
just go there (thru hte IRS so that it's free) select married filign jointly, enter all ya'lls info form the w-2's and your done.
easy as pie.
oh - and get the electronic filing and direct deposit. you'll get your money in 10days.

[SequSpur]

Knock her off and claim the insurance money and leave the country.

[Mrs.Tlong]

tlong claims me as a dependant and as an ag credit.

[SpursWoman]

Am I supposed to get a form that says what we paid in property taxes this year? We only have the one that says the interest from the lender.


It should actually be on your December or January mortgage statement under "taxes paid" ... mine was paid out of escrow (by them) at the end of November so it was on my December's statement. If they didn't pay it until January 1 or after (it's not delinquent until 2/1) you have to wait until next year to claim it. You should have at least gotten a copy of your bill from the tax-assessor/collector in the mail that tells you what it was.

[SequSpur]

If you have n laws that come over and eat breakfast every Saturday and Sunday, can they be claimed?

[Shelly]

It should actually be on your December or January mortgage statement under "taxes paid" ... mine was paid out of escrow (by them) at the end of November so it was on my December's statement. If they didn't pay it until January 1 or after (it's not delinquent until 2/1) you have to wait until next year to claim it. You should have at least gotten a copy of your bill from the tax-assessor/collector in the mail that tells you what it was.


ahh..that's right. We aren't in escrow anymore.

[SpursWoman]

Only if you let them move in permanently...and somehow they become completely incapacitated. :lol

[JoeChalupa]

I always do mine online and then file it myself so I save the $29.95.

[spurster]

How hard can it be? Presumably, you have copies of both your and her previous returns. All that is really different is that you have two people instead of one. Well, there's the deductions, too. A statement from the mortgage company should show what you paid in interest and property taxes for the house. Don't forget the points you might have paid when you got a loan for the house. There's no deduction for your car.

[SpursWoman]

There's no deduction for your car.


Yes there is ... it's the new sales tax deduction that started in 2004. The standard is like $625. If the sales tax (at 6.25%, not 8.125%) is greater than that, he can deduct it. But everyone gets at least the standard deduction as taxes paid. A car, major appliance, boat, home improvements, etc., all qualify as major purchases.

:)



home improvements

I racked up on this one, thanks to the home equity loan I got....who's interest I get to deduct. :smokin

[TDMVPDPOY]

If you have n laws that come over and eat breakfast every Saturday and Sunday, can they be claimed?

NO, unless its a meal allowance part of employment then yes, but in this case NO!

[tsb2000]

What SW said. File (married) jointly. Taxes recognize each of you as an exemption. With no kids, you would check 2 either way. If it makes you feel better, I'm an MBA so take the $150 I would charge you (for standard forms and filing) and give it to SW because she posted first. :lol!

[TDMVPDPOY]

fuck how many accountant students are in here?
imone

[SpursWoman]

I was an accounting student before I graduated ... like 12 years ago. :lol :depressed

[leemajors]

i need some advice too. my girlfriend and i have been living together for a year, and our daughter was born last march. i know she gets a credit for having a child in the last year, and i have been claiming her this first year (the child). is it more advantageous for us to file together or separately?

[SpursWoman]

Texas is a state that recognizes common law marriages, so if you consider yourselves as such you can file married filing jointly. The best way to figure out which is better is to try it both ways, married filing jointly, and then one as single and the other as head of household claiming the baby....or married filing seperately. Probably married filing jointly would be best if that whole "common law" thing doesn't freak you out. :lol

[CharlieMac]

fuck how many accountant students are in here?
imone

I'm an English nerd. Someone told me I'd never need math in life.

Thanks for the advice SW. I have it pretty much done, I just don't know what to do with this carryback for a Net Operating Loss in 2004.

[SpursWoman]

From a schedule C?

[CharlieMac]

Uhm....the form from last year just says Section 172. I think I signed the form to forego the carryback period for the NOL for 2004.

[leemajors]

thanks, the common law thing doesn't freak me out, but it freaks my gf out. we'll do what she's comfortable with.

[easjer]

eriks, thank you for asking that question. My husband and I are in pretty much the same situation (married in October), and were wondering what to do. I'm still waiting on my W2, so we hadn't gotten too far, but figured we'd try it both ways and see what got us the most.

Now we know.

[SpursWoman]

It all depends on your status at 12/31/05. You could have gotten married 12/31/05 at 11:45pm and filed Married/Joint.

Or, you could have been married all 364 days, and your divorce could have been final at 11:45pm on 12/31/05...and filed single or head of houshold (if you have kids).

:)

[Jimcs50]

If we were smart, we would not be married.





:spin

[tsb2000]

i need some advice too. my girlfriend and i have been living together for a year, and our daughter was born last march. i know she gets a credit for having a child in the last year, and i have been claiming her this first year (the child). is it more advantageous for us to file together or separately?

If she's got a child, and makes less than you, I would consider filing separately. You would file single without the child, and she would file head of household with the child. She would then qualify for EIC (usually- again, I don't know what the two of you make), but it's usually the most advantageous way to work that scenario, even if the two of you live together. :)

[Ed Helicopter Jones]

It's too bad there aren't any CPAs/MBAs/Consultants who post in here. That guy could give you some great advice I'll bet.

More than likely he'd be amazingly hot, too.

[tsb2000]

It's too bad there aren't any CPAs/MBAs/Consultants who post in here. That guy could give you some great advice I'll bet.

That would be me. :)


More than likely he'd be amazingly hot, too.

Not so much.:lmao