Money Matters
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
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Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Husband won't split tax refund with me
Last year I spoke to a tax accountant about helping me with my freelance business. I told her that my husband and I have always filed out taxes separately (married but separate, I think). She basically said that's illegal unless you and your spouse live separately 6 or more months out of the year. She said we could owe back money if we're ever audited. I got scared and forced my husband to file jointly with me this year.
Fast forward... we got our taxes done. And because we did it differently, the joint refund was significantly less that what we usually get separately. My husband was pissed. So now he doesn't think it's fair to split it, because it'd be even less money for him, but I'd make out good because it'd be more than what I normally get.
For example, he normally gets back maybe $11,000. But our joint refund is $10,000. Which means if we split it, he'd get back only $5,000-less than half of what he's used to getting.
For me, I typically get back about $2,500. So splitting the refund would give me double what I normally receive.
I'm just getting annoyed it's been 3 weeks and he's still holding onto the money. He won't spend it--he's good with saving money. And he says I should let it go because it's not like I need it ASAP. But if I had received the refund, I would have given him his portion--whatever amount--3 weeks ago when it was deposited.
BTW-We do have a joint account, the the tax lady just deposited it into his account that she's had on file for 10+ years. Even if it had gone into our joint account, that still doesn't settle how it would be split between us.
Re: Husband won't split tax refund with me
I would seriously consider this. I know not all couples share their money like H and I do but if he is being this stubborn it seems more like a maturity/relationship problem.
Love: March 2010 Marriage: July 2013 Debt Free: October 2014 TTC: May 2015
1) Fire your accountant
Love: March 2010 Marriage: July 2013 Debt Free: October 2014 TTC: May 2015
I agree with all of the above.
This doesn't even make sense. My H and I have separate bank accounts, but we file taxes together and it goes into our savings account--which is actually an account just in my name but I don't consider it 'my' money. I don't understand why it would matter who's account it's in because you should be deciding together what to do with it.
Another vote for finding another accountant ASAP. My husband and I file "married filing seperate" and have done so the last 3 years since getting married. We do make out a little better that way. And with the fact that my husband's had been working to pay off past balances with the IRS that we finally got paid off a year ago, I'm sure he's high on their radar. Anyways, as long as you declare everything you earn & proper deductions, there is nothing illegal about it. I agree with a PP who said you should consider changing your withholdings so that you bring more home weekly instead of letting the IRS make money off it. My husband and I do have seperate accounts, but that is for our "allowance" money and everything else goes into joint. If one of gets a bonus we may keep a small portion of it to go towards something we were saving up. Like I put aside a portion of my husbands bonus for his annual golf outting. The rest going into the joint checking to pay bills. I kept a little of mine and bought a new outfit from Old Navy. We figure it's our hard work that got us those bonuses so we reward ourselves with a little something with it. But this is agreed upon. You and husband need to have a serious talk about money
Thanks for the possible explanation. I was also thinking there is something the OP is either not understanding or not explaining correctly in regards to her tax lady's advice.
OP, what your H is doing is really scummy sounding. And this is even coming from a gal who struggles with the concept of "our money" instead of "my money" and my DH and I largely keep our finances separate. Not a perfect solution by any stretch, but will he at least discuss with you the plans for that $10,000...even if he won't give you access? Like, "Should we put it in our retirement account or pay down bills, etc.?" At least then, you know he is putting it toward the well being of the family and toward common goals.