I need to know if it would be better to file married filing jointly with my husband or should we both file married filing separate returns. I made $46,000 and he has made $1,400. He had not worked all year because of him studying and getting his real estate license. He just sold his first house and his commission was the $1,400. He spent around $5,500 getting is real estate license and getting his business started. We have no other income, ira's, stocks or anything so our taxes are pretty cut and dry.
2006-11-26 06:16:25 · 5 answers · asked by oh_no_not_now 1 in Business & Finance ➔ Taxes ➔ United States
From what you've posted, sounds like you'll be much better off filing jointly.
2006-11-26 07:00:04 · answer #1 · answered by Judy 7 · 1⤊ 0⤋
Given the total expenses he has he won't be able to count against income when filed seperate, my gut says filed jointly. However, buy tax software and do it both ways. 1) with just your income, assuming he get's all his withholding back, 2) then jointly.
2006-11-26 06:26:18 · answer #2 · answered by Radagast97 6 · 1⤊ 0⤋
information to substantiate it rather is to apply the envisioned tax worksheets and attempt it both approaches; see which aspects the further powerful answer. Neither of you may record as "unmarried" because you're married, so as it really is out. Married filing one after the different is mostly absolutely a sturdy idea for a couples keeping 2 separate households. considering "we are only not particular how all of it works", i rather advise that you make investments the $one hundred and fifty or as a fashion to cost to have H&R Block do your taxes, and be particular to ask for someone that ought to describe it to you. or you're in simple terms blundering round contained in the darkish. as an party - how did you comprehend that filing one after the different became the proper ingredient to do very last year? when you're asking questions this year like "what's the proper way for us to record?" why did you do it that way very last year?? Get the suggestion of a pro this year. in case you get cautioned to record mutually this year and your situation isn't extremely different from very last year, you may nicely be wise to record an amended go back for 2007.
2016-11-26 23:18:18 · answer #3 · answered by ? 4 · 0⤊ 0⤋
Either way, you are still filing as married. They will need information from both of you (i.e. net income) to file each return. His income will affect yours and vice versa, so you will get the same result either way. File jointly. That way they have all the info they need when they do both returns.
2006-11-26 13:40:43 · answer #4 · answered by LaLa 6 · 0⤊ 1⤋
That depends on how much of it is taxable. You need to try both ways when you go to file. If you would like I can do it when you recieve your W2's in January. Visit my site www. shaydzofluv.com
2006-11-26 09:57:32 · answer #5 · answered by shaydzofluv 2 · 1⤊ 0⤋