I'm single 3 kids but with the father of kids. I haven't worked at all this year. Would we get more back if we got married this year or does it not make that big of difference and wait till our planned date in 2008?
2007-10-27 09:54:45 · 7 answers · asked by brook6868 1 in Business & Finance ➔ Taxes ➔ United States
If the father is in a high tax bracket, filing a married filing joint return may mean less tax because he will be able to take a $10,700 standard deduction rather than the $7,850 standard deduction he could take as head of household. If he is in a 25% tax bracket this will reduce his taxes about $700.
If the father's income qualified him for the Earned Income Credit, then filing as married gets a slightly higher credit than filing as head of household. The difference may be close to $400 depending on the income level.
In either case, from your information, the father can claim all children and you as well.
Bottom line is that the difference is a few hundred dollars at most, so you can decide based on that information.
2007-10-27 10:18:00 · answer #1 · answered by ninasgramma 7 · 0⤊ 0⤋
Can't say for sure; not enough details. Assuming that you all live together the father can file as Head of Household and claim his children on his return. He could probably claim you as a dependent as well if you lived together all year and he provided over half of your support as long as you have less than $3,400 in gross income and your relationship is not illegal under local law.
Depending upon his income level, your taxable income on a joint return might go down if you were married. If his income is less than $24,850 it won't make any difference either way since that would be the value of his standard deduction plus 5 exemptions for himself, you, and the 3 children if you remain single. If you were married your joint income could be as high as $27,700 before any income tax at all was due.
In either case he will qualify for the EIC and possibly the Additional Child Tax Credit that would add up to a tidy sum of money at tax time whether you are married or remain single.
Hope this helps.
2007-10-27 17:34:23 · answer #2 · answered by Bostonian In MO 7 · 2⤊ 0⤋
If you get married this year, assuming he has worked this year, the two of you could file a joint return and claim the kids. If he is their biological father, he could claim them on his return even if you aren't married - if he's not their biological father than he can't.
You would possibly get more back if you filed a joint return, since there would be a larger standard deduction and an extra personal exemption (yours) deducted on a joint return, and if he files alone and you don't file at all (since you don't have income) that deduction would be lost.
2007-10-29 18:55:12 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
Get married now before Dec 31st. If you want to find out get your tax return from last year and get some blank forms. Then fill out the blank forms as if you were married. Then you will see the difference for yourself.
2007-10-29 10:26:05 · answer #4 · answered by Gary 5 · 0⤊ 0⤋
Go through the estimated tax computation both ways and see how it pencils out.
2007-10-27 17:43:28 · answer #5 · answered by Anonymous · 0⤊ 0⤋
visit IRS website: www.irs.gov
2007-10-27 21:48:40 · answer #6 · answered by Ms. Angel.. 7 · 0⤊ 1⤋
You won't get any more back by being married.
2007-10-27 17:00:50 · answer #7 · answered by firebirdstevev 3 · 0⤊ 4⤋