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if i do tax along with my wife , is there any chance i can know my personal tax income

2006-12-04 04:55:26 · 5 answers · asked by rup s 1 in Business & Finance Taxes United States

5 answers

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2006-12-04 04:58:43 · answer #1 · answered by Anonymous · 0 0

Do you mean is there a way to know the tax amount on your personal income? Your personal income is the amount on your W2(s), dividend income, business income, rent received, etc. That you probably know.

Once you choose to submit a joint tax return there is no personal tax on just your income. The benefit of doing a joint tax return is to take advantage of the tax rate and deduction available only to spouses. If you are trying to even the score, divide the smaller of the two incomes by the larger income to determine a percentage of income. Apply that percentage to the tax debt - if any. This isn't a perfect method since one of you may have paid in a greater portion of the pre-paid taxes, thus resulting in an inequitable division of the remaining tax owed. You could then go the next step of taking the amount pre-paid by each of you, and apply the percentage to the remaining balance.
Equity will still be lacking since the person making the larger amount may have also contributed more financially to the living expenses. - All this, of course is speculative.

2006-12-04 05:10:07 · answer #2 · answered by Maddy Waddy 2 · 0 0

Reallyyyy confusing question here, how can you not know your own tax info ?
Or are you asking what portion is yours ? if that is so, married couples should always do their taxes separately & combined then > > file the ones that have the lowest tax total.
When you do a joint with your wife, all the income is 'joint' and so are the taxes, that is marriage, you don't have a solo / personal if you file joint.

2006-12-04 05:09:17 · answer #3 · answered by kate 7 · 0 0

There is a chance you can know your income. There is no chance we can tell you what it is.

2006-12-04 11:49:53 · answer #4 · answered by STEVEN F 7 · 0 0

Also check this website www.irs.gov

2006-12-04 05:02:30 · answer #5 · answered by Anonymous · 0 0

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