June 2009 Weddings
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Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
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.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
taxes... a quick poll
Do you do your own or use an accountant?
If you do your own, do you use an online program?
If you use an online program, is it free?
Do you project an increase or decrease in your taxes since you will file as married?
Re: taxes... a quick poll
I do my own.
I usually end up using HR Block, but I follow whatever link on the IRS web site allows people in my bracket to file for free (it might have been turbo tax last year, I can't remember). But if I were to have to pay, I'd probably do it on paper.
I project it to go down (for me) because DH is self-employed so he has a lot of tax. I may file separately this year, which means even lower, but I have my reasons.
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I used to do taxes, so I'm capable of doing ours even when they get complex.
In the past I've used Turbo Tax for each of ours, and it's worked great. I'm going to try it this year, but if the numbers don't look right when I review the final returns, then I won't file them.
Turbo Tax charges a small fee, but it's the best I've found so I use it anyway.
I have no idea how ours will change this year, honestly. I always end up owing for my state because, even at single and 0, my withholdings aren't enough to cover what I owe. Stupid state. This year will be a little different as Mike and I are residences of different states. We'll file MFJ for our Federal return, but the CA return will only have my income. He's a NV resident (since he's military, he gets to keep his original residency) and they don't have state tax.
Lucy Elizabeth 10.27.12
TurboTax
Nope, not free.
Due to some funkadelicness with our taxes...and the fact that DH had to file his before he left...we're doing married filing separately this year. To file joint we'd have probably been down like $2000. Not sure what to expect, probably the same old amount or a hair more.
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Oops, I didn't answer the last question.
I just don't know if there will be an increase/decrease. I have a feeling I'll bring down any refund because I didn't have the state withhold taxes from my unemployment checks.
Lucy Elizabeth 10.27.12
BFP#2 2.5.11 (EDD 10.15.11) DS born 9.28.11 due to Pre-E
BFP#3 10.2.12 (EDD 6.12.13) MMC 11.24.12 @11.5w, had passed in 7th week
My Chart Recipe Blog
~All AL'ers welcome~
I do them myself. I also have done DH's for the last 8 years we've been together.
I used to do them by hand circa 1996 (I've had a job since I was 14), but since then, I've used mostly turbotax. I think it's usually around $29 to eFile.
I honestly have no idea whether they'll go up or down. I am going to do them married filing jointly and then file them again married filling sep. and see what makes us have to pay in the least. We both claim 0 and between the 2 of us, we typically end up paying into Federal about $1500 each. I am praying this year is different.
Do you do your own or use an accountant? I've always done my own - I was an accounting major in college so I always thought it would be ridiculous to hire an accountant.
If you do your own, do you use an online program? I usually use turbotax or hrblock
If you use an online program, is it free? Sometimes I have to play around with different programs, but I've never paid. If I have to pay, I'll just copy them to paper returns and file. I always do my state returns on paper.
Do you project an increase or decrease in your taxes since you will file as married? I'm not sure what is going to happen. DH and I are in different income brackets so I'm not sure if it makes sense to file jointly or not.
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This is what I'm afraid of since I've itemized since I bought my house and DH just takes the standard deduction. I have a feeling I'm going to have to do ours both ways and then end up married filing separately.
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I have always done my own. I used to do them by hand but when we got a house, changed state residency, etc, it got confusing and I started to use Turbo Tax. I plan to use it again (though not free) since we got married and plan to file jointly. I'm not sure about taxes this year since I was a student last year and get a decent deduction for that, next year I know they will go up.
Side note, if you plan to use a tax software make sure you read their policies. For example, with Turkbotax, if you pay an IRS or state penalty or interest because of a TurboTax calculation error, they pay you the penalty and interest. Look for software that has this built in for you so that you aren't responsible for mistakes on their part.
Do you do your own or use an accountant? I have done my own every year and I did DH's last year
If you do your own, do you use an online program? I've done both but prefer the online program. I've used TurboTax and H&R Block. The year I did paper was because I moved out of state and literally had a dozen forms to submit for federal and states.
If you use an online program, is it free? some years. It depends on what has gone on that year but I always have to pay for state.
Do you project an increase or decrease in your taxes since you will file as married? decrease! I was on the very bottom end of my bracket due to a promotion but because of DH's salary, it was enough to bump us into the next lower bracket.
1. My accountant ROCKS THE UNIVERSE! She is seriously the best CPA ever, I recommend her to everyone.
2. N/A
3. Definitely an increase
That's not what I meant. 2008 he filed itemized and I filed standard deduction.
Married filing sep you have to take the same deduction. If he itemizes you have to itemize. If he takes standard you have to take standard
Really? I didnt know that.
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"If your spouse itemizes deductions, you cannot claim the standard deduction. If you can claim the standard deduction, your basic standard deduction is half the amount allowed on a joint return."
That's from the IRS website. There is a whole bunch of stuff that you don't get or is reduced.
1 & 2. I've done my own since about 2001 (DH's dad still does his for him!). I have investments, so mine are kind of a biitch to do (I've never been able to do the EZ). I use H&R Block online, which charges about $50 but it does both federal and state and it's worth it to me to know they're done right.
Last year, though, because we bought the house, we went to a professional to help us out with all of the difficulties there. She ended up getting us a bigger return than either of us had ever had before which kind of got me wondering if I had been doing it wrong all along.
We'll go back to her again, just so I can learn from a pro how to do married filing jointly with all of my investment craap to deal with. Then it will be back on me for the 2010s I believe.
3. Probably around the same as last year (I hope!)
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I do my own online using TurboTax. My husband's family's accountant has always done his though, so I'm not sure if we're filing jointly or separately. He has no income and student loans so I'm not really sure how that works. Hopefully his family's accountant will just be nice and do ours but that will probably not happen haha.
TurboTax has free filing for either federal or state taxes, I forget - either way, I pay for the other one. Our taxes might end up balancing out because even though we got married this year, I started to make slightly more money. We'll see. I have 2/4 of my W2s and I'm dying to get my refund.
I do my own... I am my accountant
I use turbo tax. I usually use the paid version so I can efile and all of that stuff.
Should go down. YAY!
I've been doing my own since I was 18. Last year I used TurboTax, so I'll probably use it again this year. B's dad always did his, but won't be this year, since like pp, I don't think he needs to know how much we make.
TurboTax, again
We should get an increase, since this was the first year we both have worked a full year in our current jobs.
mofe: I didn't know that either (that I have to do what he did). Will have to look into it a little more before I file. If thats the case we're better off doing it itemized...but not by much.
BFP#2 2.5.11 (EDD 10.15.11) DS born 9.28.11 due to Pre-E
BFP#3 10.2.12 (EDD 6.12.13) MMC 11.24.12 @11.5w, had passed in 7th week
My Chart Recipe Blog
~All AL'ers welcome~
I have done my own forever, and done DH's for the last two years. I am not a CPA, but I worked at an accounting firm for a while and work in finance.
I use Tax Slayer and have always been happy with it. It costs $9.95 to file that way.
Our taxes are a little bit complicated (Schedule C's, investment income, capital gains, etc.) but we don't own a home and still take the standard deduction and I am comfortable doing them myself.