I have always had taxes taken out of my checks. My husband is self employed and did not pay taxes - now they are taking more out of my check for it - I cannot afford it. What can I do?
2007-03-17 16:38:32 · 6 answers · asked by terri d 3 in Business & Finance ➔ Taxes ➔ United States
If you are UK based read on, if not ignore it....
I am going to give the simplest and best answer; all you need to do is click on the link, insert how much you are paid a year and it shows you how much you should be taxed:
http://www.i-resign.com/uk/financialcentre/tax_calculator.asp
I hope that it helps you...
2007-03-17 16:59:09 · answer #1 · answered by monzavim 2 · 0⤊ 0⤋
Your tax preparer should help with this one. You would likely file "married filing joint". Married filing separate almost NEVER works out well!! One of the benefits to being self employed are business expenses that can be written off. This helps a lot of people. Of course, there are MANY factors. Income level, ownership of a home, rental property, capital gains/losses, etc... If I were a tax person :) and you were you. I would go see a competent person, like an Enrolled Agent to get your taxes done correctly.
2007-03-18 00:49:33 · answer #2 · answered by mashane2001 1 · 1⤊ 0⤋
Did he file his business through your jointly filed tax return?
If so, you have no recourse. He needs to file quarterly his expected taxes, it is easier to pay than yearly.
If he filed his business taxes separately, you can contact the IRS & request a removal of the garnishment since it is not your taxes that are owed. This will not work on a joint return where business income was included. If you signed then you owe according to them.
The IRS is ruthless. They kept my brother's refunds for years because of his wife's taxes from before they were married
Good luck!
Good luck, as an accountant I know how harsh they can be.
2007-03-18 00:14:54 · answer #3 · answered by Wolfpacker 6 · 0⤊ 0⤋
Who is "they" who are taking more out of your check? This sounds bogus to me, unless your pay is being garnished for some other reason. The IRS does not normally decide how much is withheld from your paycheck because of some other person. Ask your employer what is going on. Find out where the extra money is going and why, then come back and re-state the question.
2007-03-17 23:44:52 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Are you saying you are filing a joint return, and your refund is smaller because of the taxes on his self-employment? Well, yes, it would be, unless he files quarterly estimated returns and pays enough in to cover the taxes his income generates. That's what a joint return does - adds the total incomes and withholdings together, and treats them as one.
You could file separately. That would cost the two of you together more. You'd get your refund, but he'd have to pay a lot.
2007-03-18 00:01:52 · answer #5 · answered by Judy 7 · 1⤊ 0⤋
Your husband should be sending in his quarterlies. The first one for this year is due April 15. He should be sending in atleast 25% of what he earns. (15.3% SSI, Medicare and 10-15% Fed. tax itself) should cover his income. If the IRS is garnishing your wages to pay for his tax bill, seek help from a lawyer or tax professional to have this stopped. There are some rules written somewhere about "injured spouse" when it comes to a spouse not paying taxes.
2007-03-17 23:48:48 · answer #6 · answered by cthbz 3 · 0⤊ 2⤋