My husband and I got married last fall. I earn slightly more than he does. He claimed 0 on his tax return. I claimed married 1. I owed the IRS money. Can I claim 0 next year? (We filed as married but separately.) Or, should I claim 1 and withhold at the single higher rate?
2007-04-05 05:03:26 · 6 answers · asked by Donna S 2 in Business & Finance ➔ Taxes ➔ United States
Thanks for your suggestions. I did file as married 1 at work, but still owed the IRS.
2007-04-05 05:12:15 · update #1
Thanks, everyone. I value your expertise.
2007-04-05 06:54:54 · update #2
Take your most recent paycheck stub and go to the withholding calculator at the IRS website. enter in the information it requests and it will help compute what your 2007 tax liability should be, and advise what you should be claiming on your W4
http://www.irs.gov/individuals/page/0,,id=14806,00.html
2007-04-05 05:30:32 · answer #1 · answered by Anonymous · 1⤊ 0⤋
You can claim 0 on your W-4 if you want to - or if you owed a substantial amount, might want to request that they take out additional money - there's a place on the W-4 to request that.
I assume you had a good reason to file separately. Filing a joint return almost always saves some money in total taxes - maybe just a few dollars, sometimes a lot more, but almost always something.
2007-04-05 05:28:35 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
claim as married. always claim 0. that way you will almost always get money back. if you claim 1 or more you will most likely have to pay the IRS. I think their are more things you can claim when you file as married.
it does not matter if you have a separate savings or checking account any more so file as married.
use turbo tax!
good luck!
2007-04-05 05:10:16 · answer #3 · answered by ty808 3 · 0⤊ 0⤋
You can amend your taxes this year! If it will help you owe less, just file an am mended return! Are you claiming 1 at your work? You should if you aren't! You will have a better chance of NOT owing at the end of the year next year! Best of Luck!
2007-04-05 05:09:00 · answer #4 · answered by wish I were 6 · 0⤊ 1⤋
You're not required to claim any exemptions even when you have them. You can even claim more exemptions when you don't actually have them. For example, I itemize deductions which reduces the amount of tax I owe considerably. If I only claimed the one dependent I have, I'd be giving them WAY too much money. I upped it to 6 and that still leaves them owing me a little, but not thousands.
2007-04-05 05:09:06 · answer #5 · answered by J F 6 · 0⤊ 1⤋
Perhaps you already know this, but it is likely that if you file your 1040 married, jointly, you will pay less in tax for the year between you.
The answers about your W-4 are correct.
2007-04-05 05:26:42 · answer #6 · answered by CarVolunteer 6 · 0⤊ 0⤋