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Doing Your Taxes

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Doing Your Taxes

Postby shawngee03 » Mon Jan 10, 2011 4:03 pm

if i could get some answers from someone who knows that would be great.

i always do my taxes myself...as its pretty easy when you are single w only 1 W2 and no house or business. but this year i got married and this will be the first year i will have my house to account for...which i assume means deductions of mortage interest and taxes paid


first couple of questions as i fuddle through turbo tax
1. i would like to file seperately instead of as a couple....bc she doesnt know if she will be getting her w2's anytime soon...as she cant get ahold of one of her employers from the beginning of the year. and her current school wont have that w2 ready for a bit. i can do mine now....and id like to get some money back now to buy my vegas march madness plane tickets before they start going up

so question is.....is there going to be a lot of difference in return from filing seperately than filing as a couple. we do nothing special..just two regular workers w a house. no other deductions besides a little i pay for student loan deductions.

2. turbo tax says that if i am married but want to file seperately, if i itemize, then my spuse cannot take the standard deduction and must itemize as well. am i going to be itemizing due to my house stuff? im not really sure of the definittion of itemize. if that is itemizing....then i assume we would have to file together to take advantage of her standard deduction

i hope this is clear enough...i just started and have already hit some snags

thanks
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Re: Doing Your Taxes

Postby shawngee03 » Mon Jan 10, 2011 5:17 pm

nevermind...it wont let me do some other stuff going the married filing sperate route..so im just going to have to wait

but i guess thsi thread could be used for any taxes questions...im sure there are some CPAs here
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Re: Doing Your Taxes

Postby StlSluggers » Tue Jan 11, 2011 8:29 am

man, you're even more eager to file than i am :-b

you can't just wait a few weeks and see if her stuff starts showing up?
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Re: Doing Your Taxes

Postby shawngee03 » Tue Jan 11, 2011 9:54 am

yes waiting is the plan now. but when getting tickets to Vegas is being held...its a tough wait :-b
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Re: Doing Your Taxes

Postby StlSluggers » Tue Jan 11, 2011 10:18 am

maybe this year, you could try adjusting your withholding in advance and then set aside the money from your paycheck so that you don't have to wait next year

O:-)
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Re: Doing Your Taxes

Postby wrveres » Tue Jan 11, 2011 10:25 am

its always tripped me out, the volume of people that like to give the government a no interest loan. i'd rather just write em a check in April.
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Re: Doing Your Taxes

Postby shawngee03 » Tue Jan 11, 2011 10:43 am

i do not save. i cannot save. i must escrow bc i cannot be trusted to do good anything money wise. monthly payments are my friend

some things i am good at....managing money is not one of them.

just like my alcoholism...i have learned to control my lack of self control
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Re: Doing Your Taxes

Postby wrveres » Tue Jan 11, 2011 10:49 am

shawngee03 wrote:i do not save. i cannot save. i must escrow bc i cannot be trusted to do good anything money wise. monthly payments are my friend

some things i am good at....managing money is not one of them.

just like my alcoholism...i have learned to control my lack of self control
lol, awesome! :-D
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