[donovan]

Got married in March of this year, just trying to calculate my estimated tax refund, are there any calculators for this or can someone help me calculate this?

[///MC]

Turbotax??

[ideliver]

what makes you think you're getting a refund?

[Seminole]

There are a million different things that could affect it. Are you filing jointly or separately? Are you itemizing or not? Etc.

Taxes are so complex that without knowing every single thing with your situation you won't get a straight answer. The best bet would be to get a software like TurboTax and plug your information into it.

[MadDog]

Originally Posted by ideliver

what makes you think you're getting a refund?

this

[Litos]

IRS is gonna love my ass next year...

Fuck them.....

[donovan]

I used tax slayer as a basis.... and another calculator.

3-5k back for me being married. I normally get 1200 but this year I guess being married adds up. I am hearing some people getting like 7 8 thousand and a guy at work got 11,000 last year.

[ejazbmw]

tax accountant here I'm guessing your filing a joint return? all the little crap make a big difference in tax. you could file as married and filing separately theres advantages depending what both of your incomes are.

[donovan]

Well my wife did not work at all this year.

[Oregano123]

Originally Posted by ejazbmw

tax accountant here I'm guessing your filing a joint return? all the little crap make a big difference in tax. you could file as married and filing separately theres advantages depending what both of your incomes are.

what type and what level?

[Oregano123]

Originally Posted by donovan

Well my wife did not work at all this year.

that is usually not a big deal (in tax situations) unless she has large medical bills or some other major issues

[darkcloud]

Originally Posted by ejazbmw

tax accountant here I'm guessing your filing a joint return? all the little crap make a big difference in tax. you could file as married and filing separately theres advantages depending what both of your incomes are.

This. My accountant runs our taxes both ways and then we pick which is better. They are usually very drastic differences. Ex. If with file jointly we owe the tax man $2k, State and City we owe $0. We file separately the tax man owes us $400, we owe city and state $350.

Hmm I wonder what I'll pick lol. I say just find a good accountant. They usually charge upwards of $200 depending on how difficult your taxes are to prepare. Well worth it because the CPA signature on your taxes is a big seal of approval and rarely ever will you get flagged for audit unless you are very blatantly hiding stuff.

[donovan]

^ rofl...

[Litos]

Originally Posted by SehrSchnell

What's a refund?

It's the "extra income" that people get that don't work as hard as we do...

We pretty much pay THEM to be garbage, useless citizens...

I'm bitter...

[Maestro]

First do not tell the wife you getting extra back, she will spend it...

Next if people are getting large amounts back, they are doing something wrong during the year, it means they are paying too much up front so they are giving the government a free loan. Second, getting large refunds back can set red flags with the IRS, they may want to come visit you and make sure you are not doing things which they think are not allowed.

[Seminole]

Originally Posted by donovan

Well my wife did not work at all this year.

Originally Posted by Oregano123

that is usually not a big deal (in tax situations) unless she has large medical bills or some other major issues

I do audit not tax, so don't quote me 100% on this, but if she has zero income then I'd say it's very advantageous for you to file as married filing jointly. The tax brackets are much larger, and would lower your tax liability.

Let's just say for arguments sake you make 115K. If you filed as MFJ, you would reach the 25% bracket (income between $70,700 and $142,700). If you filed separately then your 115k would mean you reach the 33% bracket (income between $108,725-$194,175).

[ejazbmw]

Originally Posted by donovan

Well my wife did not work at all this year.

file as joint and use her as a deduction 3700

Originally Posted by Oregano123

what type and what level?

currently in corp tax but also do personal for friends and families. I'm a senior level tax accountant in ernst young

[ideliver]

Originally Posted by Litos

It's the "extra income" that people get that don't work as hard as we do...

We pretty much pay THEM to be garbage, useless citizens...

I'm bitter...

I take you understand about "refundable tax credits" such as the earned income credit....

I have no issue with lower income workers not paying any income tax....my issues is that they should still pay payroll taxes...they will be using those services at some point and should contribute...

but no....we give it all back (AND MORE) with the EIC....to add insult to injury....our government saw fit to lower the payroll taxes to SS even though it in not adequately funded as it is currently....

this completely boggles the mind

[Express]

Originally Posted by ejazbmw

currently in corp tax but also do personal for friends and families. I'm a senior level tax accountant in ernst young

no wai????????


http://e90post.com/forums/showthread.php?t=309254


intern.

[eaglesfan83]

Originally Posted by Litos

It's the "extra income" that people get that don't work as hard as we do...

We pretty much pay THEM to be garbage, useless citizens...

I'm bitter...

unless you work out of the country for 8 months of the year so your only taxable income in the 4 months you worked in the US and thus qualify for a refund while still making where someone would normally owe. Finally a chance to stick it to the Gov and get some free money back

[Undertow]

The best situation is to receive $0 refund and owe $0 in additional tax liability. Try to modify your withholding according. People get all excited about getting big refund checks. Why? You overpaid throughout the year and let the government hold your cash interest free.

[Express]

senior level consultant right here.

http://e90post.com/forums/showpost.p...3&postcount=24