My bf/father of my 3 yr old son and I just recently filed our taxes together and we will get back like $3600...here's the thing...because of MY tuition expenses, etc we got an extra credit of $430....i still have money left from a school loan i got at the beginnig of this year and it is in savings...My bf is being moody about the situation and does not think he should have to give me the tuition credit money bc i "already have money"....Am i just being wrong? stupid? Asking for a lot??
2007-03-03 18:32:52 · 10 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
this is only our 2nd time filing together and since we are considered common law and have a child together the tax place recommended to file this way...i totally understand what Ms Taken is saying but come on...i think what really gets to me is that i (who makes a fraction of what he does) always tries to save money and believes in planning for the future....he never has $ in savings and does not even contribute to our sons savings that i opened...im getting fed up
2007-03-03 18:58:56 · update #1
oh and we do our bills seperately..so tuition will not be something that he has to pay EVER
2007-03-03 19:00:26 · update #2
Yes, he is being greedy.
No, you are not wrong, stupid, asking for a lot.
You got the extra credit because of YOUR tuition.
I'm not sure why he feels entitled to the money. Moodiness does not begin to justify his demand.
Like the first person said, take the money and tell him to KYA.
2007-03-03 18:48:15 · answer #1 · answered by Anonymous · 1⤊ 0⤋
There's an old sayng: "What's mine is mine; and, what's your's is our's." Seems to me that your bf is saying that to you. However, while your tuition expenses increased the tax refund by $430, your income may have disproportionately increased the total tax by pushing you both into a higher tax bracket. Consequently, you cannot take one piece of the entire calculation, which includes income and expenses to make your point. So here's some thoughts.......
You mentioned that you each pay your own bills, but some bills, rent, utilities, food, etc. should be shared.
If you base the amount due from you and bf on the amount you make, i.e., he makes $45M and you make $15M, then you pay 25% (total income $60M divided by your income $15M) of the communal bills. That was a loooong sentence. Anyway, if you use that method, then the "fair" way to divide up the tax refund is to apply the same percentage to the $3600. Yes, "fair" is relative.
Another way to determine the shares is to do individual tax returns. Calculate the amount of refund on each return, including any Earned Income Credit, and relate the individual results to the joint return tax refund. You could use the net tax due from the two returns if only one gets a refund.
The third way is to take the total tax withheld for 2006 and divide it by the amounts withheld from your and bf 2006 earnings. Use that percentage against the refund to determine how much each of you get.
Final suggestion: You do each of the above methods by yourself BEFORE you mention it to him. Then you can decide which one you will present to him. Or continue to ask for the $430!
He's not being greedy and you are neither wrong nor stupid. This was a great question!
2007-03-04 15:26:20 · answer #2 · answered by Chef dad 3 · 0⤊ 0⤋
My question would be...if you're not married, how and/or why did you file a joint tax return? Also, although the extra money was due to your tuition, how much do you personally contribute to the household expenses? These are questions to consider before raising an argument with him. How much is it really worth to you to claim that particular portion of money? Would you be willing to give up what he contributed as well? If it is of paramount importance, you should probably file separate returns in the future to avoid the conflict.
2007-03-04 02:52:31 · answer #3 · answered by Ms. Taken 2 · 0⤊ 1⤋
OK, first, he's clearly not a financial genius, and not particularly generous, but you've already linked yourself to him, so the people who say "cut and run" have forgotten that your son might still need a father. So, you've got problems bigger than this $430. If you think he's worth working with, and if he's willing to make a real commitment (something bigger than filing taxes together), you might try going to a couples' counselor - one that deals with financial issues, because you clearly need that if you're ever going to be "on the same page".
Here's the thing, you're not wrong, but the fact that you got a deduction from your tuition isn't only because of your tuition, it's also partly because of HIS income, so I don't really imagine that you should expect it all for yourself, but you ought to certainly benefit from most of it. Frankly, if a guy isn't willing to consider working with you on something like this, he probably isn't the greatest provider anyway, and I'm not sure you ought to be linked with him permanently, but then again, you've already gotten yourself into this mess.
In general, someone who punishes you because you save money, and rewards himself because he spends it like crazy is a financial loser, and unless he's really willing to make a complete change, he'll drag down anyone who is connected with him. That's not saying he can't change, but people don't change attitudes like that easily.
2007-03-04 09:08:12 · answer #4 · answered by Anonymous · 1⤊ 0⤋
it is your credit it is yours. That credit is given to student to help them with there school so they can earn money and pay more taxes is the fuctor. Or you may let him have it if he pays back the loan he can not have it both ways.
2007-03-04 02:44:22 · answer #5 · answered by Anonymous · 1⤊ 0⤋
The money is yours. Do you really wanna stay with a guy who's this unreasonable about money as well?
2007-03-04 05:49:51 · answer #6 · answered by boo! 3 · 1⤊ 0⤋
Take the money and tell him to kiss your a**...
2007-03-04 02:41:52 · answer #7 · answered by Yates M 2 · 2⤊ 0⤋
yes he being greedy don,t give him any money from your student loan its not his its yours
2007-03-04 03:34:13 · answer #8 · answered by pattibcacl 6 · 1⤊ 0⤋
Its yours,I agree with the rest.
2007-03-04 02:52:30 · answer #9 · answered by Anonymous · 1⤊ 0⤋
no, no, and hell no. I'm sure he already has money too.
2007-03-04 02:43:28 · answer #10 · answered by Brian M 4 · 0⤊ 0⤋