I have a question ... a boring question (possibly a stupid question) but I figure that you all are here to help me with the fun stuff and the not-so-fun stuff. Right? All you finance peeps listen up. For the past couple of years (since I have had a real job) I have claimed 0 and 0 on my taxes so I have always received a tax refund. I understand now that you should really try to break even ... receive nothing, owe nothing. But hindsight is 20/20 and nonetheless I am expecting to receive a refund this year of about $2,000 and the Beau will most likely be eligible for a refund of the same amount. So since we are getting refunds I would like to maximize the refund as much as possible (obviously). Here is my question - should the Beau and I file together as married or file separately? We don't qualify for any major deductions because we don't yet own a home or have anything significant to write-off. I am just a little confused ... marriage sure does complicate these kind of things :) Any help or advice you could give me will be much appreciated!
In other news I have been quite busy preparing for 2 showers I am hosting this month at my house!!! I LOVE giving showers and I have the tendency to go a little overboard but I have had the best time planning and I can't wait for it to all come together. One of the showers I am planning is for a college friend and it is going to be Monograms and Mimosas and I have to tell you that it is the most fun themed-shower to plan!!! I am going to try and wait to share all the details until after the shower so I can share pictures, etc. but I have to show you the invitation now because they are so cute I can't stand it. My "in real life friend" Emily at Savannah Redtops designed them for me and I couldn't be happier. I emailed her letting her know the type of shower and the colors I am using along with the basic information and she worked this up for me in just a few hours. She totally read my mind ... Thanks, Em!
xoxo~
2 days ago
41 comments:
I have no clue; I would think if you have no deductions; kids, daycare, mortgage insurance etc it doesn't matter either way; look online though for the answer...taxact.com.
I am sure the showers you throw are fabulous...post pics!
If you don't want to pay, you should try the free version of Turbo Tax (or whatever program you want to use, I am certainly not endorsing one), go through it once as if you were filing separately and once as if filing jointly. See which one has the biggest refund.
I can't really help you out b/c I don't what the refunds you guys might get would be coming from. So, that is the best I can do :)
We ended up doing the trial and error method last year and got the better refund filing jointly, but it totally depends!
i don't have any advice because we'll be doing this for the first time together this year. we still don't know what we're going to do. i'll be checking back to see what advice you get!
the invitations are seriously adorable!
I haven't a clue about the tax question. I have paid painfully for the last two years. But, I love the theme for the party and the invitations. Great idea!
Very cute invitations! I am also throwing a shower soon myself. As far as tax answers go, I have no clue how to even do them.
I no nothing about taxes! Sorry! However, I do know that the shower invitations are so cute, and I absolutely love the theme! Precious!!!
Those are absolutely adorable!!! What a fun theme! I let my Dad tell me what to do about taxes, sorry I can't help you there, but I do love those invites!
I love the invites - so cute!
As far as taxes go, we'll be figuring that out this time as well. One of my best friends is an accountant and she advised us to file jointly.
Love love love the invite!! Can't wait to see pics from the shower!
Hey Belle - accountant here... typically it's best for married couples to file jointly unless you have a particular reason not to do so which I won't go into b/c it's really boring! However, without knowing your full situation, it's impossible to tell you for sure if you should file jointly or separately. I suggest going online and using turbotax or h&r block, etc. and do it both ways to see which way works best for your situation. Either of those sites will let you do your taxes for free and not charge until you are actually ready to file. Good luck with a refund!
Those invitations are so cute, I love the theme! I have no idea about taxes, we are facing the same dilemma but we have deductions(house) so we are going to file together. That's the kind of stuff I leave up to my hubby!
I'm not much help on the financial stuff, but I absolutely LOVE the theme you picked! The invitations are adorable, too :-)
As I am an accountant, I was going to say the same thing that Southern Savvy said...she beat me to it! If you do decide to do your return online, I have used taxslayer.com in the past and it has been good for me. As I always tell my friends, if your tax return is too complicated to do yourself (and most peoples are not), go to a CPA. I work for one, and I plan to become one within the next couple of years. They definitely have the most training and experience. =)
I'm not an accountant, but my husband and I always file jointly and that seems to be the best as far as deductions, etc.
I LOVE those shower invitations and LOVE the theme! I may have to borrow that next time I have a shower to host.
This is my first tax season as a married person, so I'm right there in the same boat with you.
Those invitations are so great; I can't wait to see pictures from the shower!
Hi, We use a CPA. It cost around $100 for them to do our taxes each year but it is so worth it. I never have to worry about audits or things like that. They also know the tax laws for our state and can find deductions. -Laura
Hi, what an adorable shower theme! i love that and can't wait to see pictures.
as far as the taxes go, our financial planner told us to file together because you get a tax break for being married. one of the few reasons to file jointly, i believe, is if you both make a ton of money. we use an accountant for our taxes and we have a house write off but thats it, and he told us to file jointly. hope this helps!
It's been my experience when in doubt, it's best to pay the professionals for their advice. The tax laws are constantly changing.
Oh my gosh, I LOVE THE INVITE! It's so classy & cute. I want to get married so someone will hopefully throw me a party like this! I can't help w/the tax stuff, but look forward to hearing about the party!
I thought one of the benefits when you got married was some sort of tax break, but I am a dedicated old maid, so don't ask me!
The invitations are precious, though!
The invites are so cute :)
I'm putting your giftcard in the mail tomorrow...I haven't forgotten, I promise! :)
File Joint! The deduction is 10900 vs. 54something. I prepare taxes, and I promise you, people always want to file seperately until I show them the joint return.
Really the only good use for Married filing seperate is if one spouse is missing and you have to file that way, or if there are major legality issues.
love love love that shower idea! And the card is adorable!
I would file jointly, but of course I would do some research on turbo tax, and just understand it for yourself. Good luck!!
Loving the invite!!!
Wow, thanks for the question Belle. And, the great advice... We'll be figuring this out for the first time this year too so it's good to hear the suggestions. My husband's had the house for years before we ever met. I think we'll do the math both ways and file the way that works best.
Thanks!
No idea about the tax question... but those invitations are precious!! I cannot wait until I get to host a luncheon!!
I left you a surprise on my blog! Hope you have a great day!
File your taxes jointly. Only a very small percentage of married people would ever file seperately. Unless you have a very strange situation, and you will know if you do, don't waste your time playing around with it.
Enjoy your week!
so so cute! {the invitations and the theme!} I'll have to keep that in mind when I throw a shower!
and unfortunately, I will be no help on the taxes thing... it confuses me. :(
Me and my beau are in the same situation. Except I'm contract work and we have a house thrown in there so it complicates it even more.
Love the invitations!! Absolutely precious! Can't wait to see pics of the shower :)
I have no idea. We always file jointly.
Thanks for the credit friend! Glad you loved them!
Love the invitations :) And, I tagged you on my blog!
I have been reading your blog for awhile now but finally decided to comment.
Not sure of the tax answer but just wanted to let you know those are the cutest invitations! I love the theme as well.
2 showers?!? Wow that's pretty crazy.
But that HAS to be one of the cutest invitations I've ever seen!!!
Hey there... world's most stylin' tax accountant here. Definitely file jointly. 99.99% of the time you're better off filing jointly. And you should be safe both claiming 2 and 2 for Fed and state.
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