Should I be filing M/0 on taxes?

laceysmom82

After DH and I were married I never changed my deductions for my paychecks.  I'm at S/1 I *think*, maybe S/0...but a friend that got married right after we did just told me she is M/0... should I be too?  I'm confused!

ETA: We file our taxes jointly.

tracey4228

The answer will depend on whether you use the standard deduction or if you itemize, and if so, how much that is. Filing Married just changes the tax table and typically gives you a little more back. The best thing is to go to www.irs.gov and check out the W4 calculator under Individual/Consumer. You'll enter in data relative to your situation, including info from your last tax return, and it'll advise you as to the best filing status.

laceysmom82

tracey4228:

The answer will depend on whether you use the standard deduction or if you itemize, and if so, how much that is. Filing Married just changes the tax table and typically gives you a little more back. The best thing is to go to www.irs.gov and check out the W4 calculator under Individual/Consumer. You'll enter in data relative to your situation, including info from your last tax return, and it'll advise you as to the best filing status.

Awesome!! Thanks for the help!

katherineUTC

I was really confused about changing my W4. I asked someone over in HR and she said I didnt need to because then they'd take out more taxes...? It's still listed as S/1.

Temp790631812507809

What you have withheld from your paycheck (via your W4) has nothing to do with how you actually file your taxes (via your 1040).  Like pp said, you can do the withholding calculator on the IRS website to see what that advises.  DH and I never changed our withholding when we got married.  The single withholding takes out more taxes from your paycheck. 

There are basically two schools of thought: 1) have more withheld throughout the year, reduce the risk you'll owe and get it back in the refund or 2) minimize your withholding and have more money in each paycheck, with the risk if you make a mistake, you could owe. 

Regardless of how your withholding is calculated, if you're married, you have to file your taxes as married, no matter when during the year you got married.