Does any one else owe?

MeaghanandMichael

on their taxes this year? fuuuck. I was NOT expecting this. Nice morning news to wake up to.

You can go to HR and have more taken out from next years check right? I thought we were doing that already but I guess not...

Brie2010

Nope.  This is basically going to be the best year ever for taxes.  I think between the two of us we're getting back everything we paid...and then it's all going towards the wedding.  Fuuuck.

opalsky007

Yikes, I haven't even gotten all the paperwork to be able to start mine! My school is notoriously slow at getting that stuff out.

danieliza1127

Did you just get married in 2009?  There's what they call a "marriage penalty".  We got married in 2008 so when we filed taxes in 2009 our return was WAY less than we were used to.  This year it's back up to normal and we're getting almost $1500 back. 

Are you filing jointly or separately?  I know for us, our return was much higher filing jointly.

vallyhoo

Yes but I do that on purpose. I try to get it as close to zero as possible.

RachNRich

I won't--but Rich probably will. He tutors a kid from a rather wealthy family in MN, and they pay him by check from their business account---and never tax him. Every year, he ends up paying a buttload of taxes on it.

MeaghanandMichael

NO this is our second year of filing as a married couple. The thing was that in 2008 I was a student for a lot of it and Mike was single for a lot of it so I made no money and they took out a ton from him. We got like 5k back last year.

Now this year I am finally making money and he is making more and we are screwed to the tune of 3200!! Sweet huh?

And yes Dani - filing joinly helps a LOT.

Stackeye210

Dani - a "marriage penalty"..........what the F does that mean? 

Night_Sprite

I did last year.  I'd rather put money in a savings account than have it managed for me by the government.

Stackeye210

We paid single taxes all year long because we just didn't even think to change our W-4 until December.  So I have know idea what our returns will look like.  We're having Mr Stack's dad figure out our estimated taxes for 2010 to make sure with our marriage status we're taking out enough in taxes. 

MeaghanandMichael

Stacks - re:marriage penalty - you always seem to get a LOT more taken out once you are married than when you both were single. It has to do with combining incomes and being in a higher tax bracket. The government bascially assumes you are a unit helping each other out now even though you were probably doing the exact same thing before you tied the knot.

arbolita

I don't entirely understand the marriage penalty or why it happens, but a lot of couples wind up oweing money or getting less back during tax time they year they get married - I think because when you combine the total amount you are making, it changes the tax bracket you're in?  I could be really wrong about that.

We're still waiting on our forms regarding our stocks, so I have no idea what ours will be yet.

laurenclaire1386

I have no idea if I do or not. I probably do, and it's probably astronomical. But I'm filing 1099 (contract employee) for the first time and taxes aren't taken out of my check every two weeks. I have to pay quarterly. Pretty sure I'm about to get buttraped sans the KY, courtesy of the IRS.

sarah0725

I'm going to have to pay something this year. I was on fellowship all year and they didn't take taxes out, so I'm pretty sure that's going to mean that I have to pay taxes on it pretty soon.

aMrsin09

oh please. 
Try being married to a man who has no SS# and earned no US income. It's married filing seperately for this gal!

 My tax guy is going to earn his pay this year.  I was unemployed for all of it, but mid year I rented my place out, so I get to take those business deductions.

Oh, and once I start working in Australia, KPMG wants $2800 to do just my Federal taxes.  I figure I'll pay it once and then in subsequent years just "copy" what they did.

playtntsbpg30

FI always owes to the city. He never see's a refund from state or Federal. It goes to back child support and welfare birthing costs. The back CP is due to him being stupid and being in jail, it just add's up as you sit in jail so that's why he's behind there.
When we get married we have to file separately or I'll be loosing my refund as well. Does anyone else do that?


You can go to HR and have more taken out from next years check right? I thought we were doing that already but I guess not... 
 Sorry you got this news.. HR should be one of the places where you can pay in more this year for next year and the alike before. Maybe check into your HR to make sure there isn't money there that can go toward what you owe this year.
Hope it works out. And Be sure to change your numbers on your W-4 (not sure if this is the same everywhere) higher so you don't owe next year. if anything you will get more back

Stackeye210

Oh ok.  That makes sense then because we both just changed our W4's and it increased our checks significantly.  So we're paying less in taxes every 2 weeks, but that's because they combine what I pay and what he pays when filing jointly.  Is that the right idea that you guys are saying? 

So married girls - in your experience.  If my W4 is set to married and 0 - is there a need to take out additional monies on top of that? 

FIL does taxes professionally as a PT job, but I just don't want to sound completely ignorant when I ask him about this married filing stuff and what I need to claim to not owe money next year. 

MeaghanandMichael

AMrs FTW! That sucks doll
ps- STILL can't get your pm booooo

Play - I am definitely going to change it for next years taxes. I didn't realize I could perhaps do something about this years. I mean, like Night said, at this point there is not much difference between that and putting it in my own savings account where I have the control.

mandysmear

We're still waiting on our T4's.  H got lots of extra taken off his second job cheques, so we're  hoping it was enough and he didn't get screwed. 

georgia_bride09

So the most I ever got back before was $100, and now I'm getting screwed for being married? Awesome.

Night_Sprite

Sarah, I don't know if this will help with fellowship stuff, but my payment went down with my parents still claiming me.  In fact, I bet I will be claimed for 2009 while they still can because the tax break is about a grand for them.

sarah0725

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_etiquette_one-else-owe?plckFindPostKey=Cat:Wedding%20BoardsForum:9Discussion:c459a6da-7c05-46cf-b20e-f3f9a4c76e21Post:7a334578-a4d6-412e-a1fe-049bbee46e85">Re: Does any one else owe?</a>:
[QUOTE]Sarah, I don't know if this will help with fellowship stuff, but my payment went down with my parents still claiming me.  In fact, I bet I will be claimed for 2009 while they still can because the tax break is about a grand for them.
Posted by Night_Sprite[/QUOTE]

I don't think they can claim me. I'm 25, I don't live with them, I've been filing on my own for years, and they have no part in taking care of me... I think it would be fraud of some kind if they did claim me.

AlexiaANDRobert

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_etiquette_one-else-owe?plckFindPostKey=Cat:Wedding BoardsForum:9Discussion:c459a6da-7c05-46cf-b20e-f3f9a4c76e21Post:4aa2781a-66d0-4942-9fe6-06d0ff44aeda">Re: Does any one else owe?</a>:
[QUOTE]Yes but I do that on purpose. I try to get it as close to zero as possible.
Posted by vallyhoo[/QUOTE]

Me too!  I refuse to give the gov't a free loan!  It's MY money...

SnShne322

We looked at what filing jointly would do for us and it looked good for federal, but the state was WAY higher than normal. We are going to look at the difference for filing separately before we file them.

I hate tax season!

TurtlesAllTheWayDown

I'm getting back more than I thought I would this year. I already adjusted my W4 a few years ago so I could cancel out, but then last year I had a lot of medical bills, so I got a refund. I thought this year I would be back down to close to zero, but nope.

I only owed one year. That sucked.

I do NOT want to file taxes together when FI and I get married. Then I'll get absolutely nothing back and probably end up owing.

Night_Sprite

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_etiquette_one-else-owe?plckFindPostKey=Cat:Wedding%20BoardsForum:9Discussion:c459a6da-7c05-46cf-b20e-f3f9a4c76e21Post:d9fbc0fd-86f9-44cb-888c-7a34d485503c">Re: Does any one else owe?</a>:
[QUOTE]In Response to Re: Does any one else owe? : I don't think they can claim me. I'm 25, I don't live with them, I've been filing on my own for years, and they have no part in taking care of me... I think it would be fraud of some kind if they did claim me.
Posted by sarah0725[/QUOTE]
Ah, damn.  I was still in undergrad for half of 2008 and they were supporting me for that.  I am sorry for failing at being helpful.

missy68

I TOTALLY forgot to change my W-4 at work in 2009. Anyone know how that's going to affect us? We were planning on filing jointly as married. I've changed it now.

I think DH forgot to, too.

pumpkinpumpkin

I'm still waiting for T4s as well as the statement from the bank that says you earned interest...I have a fair bit of money in a savings account that earns interest, luckily this year at like 2% it's not going to break me like past years at 8%. Mark & I claim taxes together as common-law, because in Canada you can do that. It didn't help us last year at all, last year was the first year we did this. Mark always has to pay a buttload of taxes because he's self-employed. Once he's better and back to work, he'll be starting a numbered company, paying himself a wage, and filing a separate income tax for the business.

ExpatPumpkin

Yep, every year

ohwhynot

Dammmit, yes, I just figured it out.  I was hoping to pay for some of our vacation this year with a tax refund, but that just went bye-bye. 

Loopyseven

I will probably find out tonight... still waiting for my 1098 for my student loan interest, but I can do everything else and see where I end up.

I owed one year, I had picked up a part time job waiting tables and got screwed come tax time cause of the extra income (that and at $2.13 per hour at the time there was never enough income to pay all the taxes that should have come out of the amount of tips I claimed.)