What i'm asking is, is there a need to wait on his w2, I have heard that if you make under a certain amount you don't have to file?
2007-01-08 11:31:48 · 6 answers · asked by peterpan123 3 in Business & Finance ➔ Taxes ➔ United States
Yes, you still have to include that income if you are filing married.
There is a rule that if you make under a certain amount you do not have to file, however, if you are filing married, then you have to combine all of your income to figure out if you qualify to not file.
Beside, if that $400 is as a W-2 employee, then it is probably to your benefit to include that information because you may have some federal withholdings that could be refunded to you. If you are a 1099 contractor, then you may be able to offset that income with business expenses, and thus it 'could' lower your overall taxable income.
2007-01-08 11:48:54 · answer #1 · answered by j-man 4 · 2⤊ 0⤋
Yes, you definitely want to wait for his W-2. Filing Married filing joint is the best tax bracket to file under and you need him to file joint. Anything earned over $10 is reported to the IRS, interest, dividends and especially any wages with a W-2. Please be patient. If you need a refund as soon as possible that won't cost you extra money, make sure you have a checking account, savings account or a credit union account. If you do not have any of these, take the time to open a checking account. That way you can file electronically and have the refund routed to your checking account and all that should take no more than 2 weeks. If you wait until IRS mails a check, it might take 4 to 6 weeks. Please DON'T make any loans against your refund. You will be throwing your money away, as much as $388 just to have the money 5 or 6 days before your check can be routed to your bank account.
2007-01-08 12:50:59 · answer #2 · answered by Anonymous · 0⤊ 0⤋
If you are filing jointly, you have to wait to get his information. Filing seperately, you would not need his W2, but you will probably have to pay more taxes because you can't apply the deduction to wages he never earned, and taxes he never paid. Just be patient and wait for everything to come in.
2007-01-08 11:38:50 · answer #3 · answered by Ron B 3 · 1⤊ 0⤋
Yes, you do - if you're filing jointly and your TOTAL between you is greater than the limit to have to file, you have to include everything earned by either or both parties.
2007-01-08 14:10:37 · answer #4 · answered by Judy 7 · 0⤊ 0⤋
You have to include all income for the husband and wife when they file jointly.
2007-01-08 14:06:03 · answer #5 · answered by Ovrtaxed 4 · 0⤊ 0⤋
no, you don't have to file any earnings less than $2,500. but you should still double check with a tax company though. they should be glad to help in hopes that you'll come see them to get your taxes done.
2007-01-08 11:41:37 · answer #6 · answered by bradsalex 2 · 0⤊ 5⤋