My wife is a stay at home mom, and she is always busy. It's a 24/7 job, and she hardly has any time for herself, and when she does get time to herself, she is sleeping.
If she were working these type of hours at an office she would get a nice tax return, I think stay at home moms should also get a tax return.
What do you think ?
2007-01-19 03:50:33 · 7 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Good for her! That's called being a parent. That is your joint responsibility for having children. Why should other taxpayers give her/you a credit for doing what society expects of you. You, she and each of the children get a personal exemption on your joint return now - isn't that credit?
2007-01-19 04:08:22 · answer #1 · answered by curious george 5 · 1⤊ 1⤋
What you are missing is that she would pay in taxes if she worked these hours at an office. You do not have to pay taxes on her productivity. The IRS does not give you anything for effort. An example is that you do not get a deduction or credit for volunteering your time to a charity. I don't think we need to get the IRS any more involved in our lives than they already are.
Besides, the IRS probably feels that you should pay taxes on the fair market value of all the free work you get out of her. That's one 1099 that I don't want to get.
2007-01-19 12:11:00 · answer #2 · answered by Lee 5 · 2⤊ 0⤋
Tax return is not really money IRS gives out; It's part of the money you and your employer paid to IRS during the previous year. You are simply getting the money back because you OVER paid. If you underpaid, you will be paying extra even if you worked 100 hours a week. Sadly tax return has nothing to do with how hard you work. Since your wife didn't pay anything to IRS personally, she is not entitled to any return. However, you should share what you got back from IRS with her.
2007-01-19 12:01:11 · answer #3 · answered by spot 5 · 2⤊ 1⤋
If you got a tax credit for being a stay at home mom you would also have to tax the fair market value of the work she did.
You can't have both ways!
2007-01-19 12:13:26 · answer #4 · answered by Wayne Z 7 · 1⤊ 0⤋
Why? She doesn't get paid, which meens she doesn't pay taxes. I understand she probably does an exceptional job taking care of your kids and household, but that just doesn't seem fair. I know what it's like to see most of my check widdled away from taxes each week, so I feel working people, regardless of their status (rich, poor, etc.) deserves a tax credit, IF you pay taxes.
2007-01-25 14:35:09 · answer #5 · answered by Kristy ♪♫♪ 3 · 0⤊ 0⤋
I agree! That same goes for stay at home dads. Personally I think both parents should get to stay at home and get paid for it. Isnt it important to have both parents home to raise the chlildren?? Ha ha
2007-01-19 11:58:31 · answer #6 · answered by Tink 5 · 0⤊ 0⤋
yes deffinitly , i was just saying that yesterday
2007-01-19 12:01:19 · answer #7 · answered by haa haa 2 · 1⤊ 2⤋