I know that by filing as married, you get more back on your pay check. Does it even out at the end when tax time comes around? Does the benefit of having a bigger pay check require me to pay more back to the government come tax time or vice versa? If so, does that mean the only benefit as filing as married as opposed to single is placement in the tax brackets?
2006-11-18 06:53:09 · 5 answers · asked by iamstidi 1 in Business & Finance ➔ Taxes ➔ United States
You must be talking about married filing joint. If legally married you only have two options- married/joint or married filing separate. You can't file SINGLE at all.
If you file married/joint you agree upfront to let the IRS go after you for any taxes your lying cheating spouse is found later to have done. The IRS bribes you to sign jointly (bigger refund) so they can go after either one, two fish to fry!
If you file separate (to protect yourself) they tax you the hardest- WAY higher than "single".
AND, If the spouse/rat has a home in his name only...The IRS even takes away your deductions (you'd normally get if single) like low income credit, or child care credit, or education expense, or Schedule A deductions for business mileage, car tags, etc.
WELL the IRS says it's FAIR, afterall he is your spouse and we just ASSUMED that you & the stingy rat shared the benefit of ALL the "joint" income, and we ASSUME that YOU, the new wife lives in the home NOT the rat's tax-free smiling all the way to the bank EX-WIFE.
2006-11-18 17:44:25 · answer #1 · answered by upside down 4 · 0⤊ 0⤋
Filing as married puts you in a whole new tax bracket because of marital allowances and an increased base for taxable wages. Yes, getting a bigger gross paycheck will increase your tax liability because of increased wages earned. Filing as married also allows some extra deductions and credits allotted in addition to putting you in a different tax bracket.
2006-11-18 07:03:00 · answer #2 · answered by Compurednek 3 · 0⤊ 0⤋
when you're legally separated and characteristic not lived at the same time for better than six months you may document unmarried. once you've children, then you truthfully can document head of loved ones. you'll declare the wish credits. also in the journey that your husband is filing unmarried, then you truthfully document unmarried. sure that's criminal. in case you may then only wait till the divorce is very last next month. then you truthfully gained't have any concerns in any respect. you fairly will be unmarried. reliable good fortune
2016-11-25 02:42:27 · answer #3 · answered by ? 4 · 0⤊ 0⤋
if you file married, you will have to pay more when you file at the end of the year. if you file single, you get less in your paycheck but you pay less (or maybe even get a refund) after you file. having kids and a mortgage really boost up your return (but they both cost more than it's worth throughout the year!)
2006-11-18 06:56:26 · answer #4 · answered by rachel 5 · 1⤊ 1⤋
You do NOT get back money if you are married, you are penalized, and the higher your tax bracket, the MORE you are taxed.
2006-11-18 06:54:53 · answer #5 · answered by It's Me 5 · 0⤊ 3⤋