Recently married, what kind of paper work do I need to fill out for tax purposes? Any tips about filing jointly? HR person at work was not much help, any advice would be appreciated!
2007-10-30 00:42:04 · 3 answers · asked by just_another_spaz 1 in Business & Finance ➔ Taxes ➔ United States
you may want to submit an updated W-4 to your company
other wise you need do nothing until you file your federal / state income tax forms next year
2007-10-30 00:50:37 · answer #1 · answered by Jan Luv 7 · 2⤊ 0⤋
If you both work, I wouldn't change anything just yet.
When you file your return for 2007 you can file as "Married-Filing Jointly" or "Married-Filing Separately". For most people, jointly is usually better.
If you change your W4 to "married" they will take withhold less taxes but many people get a little surprise when they file their return. If they both change their W4s "Married", they end up owing at the end of the year.
So, for right now, leave your W4s the way they are. After you find out where your return ends up this year, you may elect to change them.
Note: Most HR people don't understand taxes. Most HR people don't understand very much. They are so afraid of giving bad advice that they won't give any advice at all.
2007-10-30 09:14:15 · answer #2 · answered by Wayne Z 7 · 1⤊ 0⤋
You can change your W-4 to "married" if you want to. But if your spouse also has income, it might be wise to leave it alone so you don't end up owing tax when you file, or else just change it to "married, but withhold at higher single rate" which will have no effect on how much is withheld, it will stay the same as it is now.
You almost always do better filing a joint return rather that filing as married filing separately, your only other option.
2007-10-30 10:28:06 · answer #3 · answered by Judy 7 · 1⤊ 0⤋