Helpfulbox Now Offers Free POS Software for restaurants, kiosk, and any other retails business completely free used windows cashier system or as full blown POS. You will able to print to kitchen, display orders on the kitchen screen, manage inventory, employee, report, customer loyalty offers, employee management, delivery address track and much more, al for free.

Married, file jointly or separately? Me: Made just over $30k this year. Only my name is on the mortgage, not his (in the 3rd year of payments, still paying a buttload of interest and PMI). I bought a $10k car and paid taxes on it. Also some minor donations. Him: Only worked half the year, he's an auto tech and spent a lot on needed tools for his job. I think those expenses are tax deductible? No children. Married in September. Do you think it would be better to file jointly or separately? If I go to a "tax professional" will they charge me double if I want them to do both to see which will be most beneficial? Thanks for your help.

By: Guest
Date: Unknown--
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if hubby worked on my 2 cars will i get charged

You will get a discount for doing return both ways. You are buying time doing two returns will cost more than doing one.

[d] By: Guest
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You are usually better off filing MFJ.

When I worked at Block, the program allowed for comparing the final totals for MFJ vs MFS once all the information was inputted. No extra charge for the comparision, but if they then decided to go with MFS, then there would be a charge for two returns as they'd have to go back and separate all the information. The other companies probably have something similiar.

[d] By: Guest
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You're in a community property state

always a better financial end result. In a community property state, you and your spouse have to take 1/2 of each person's income (so you'd have $15k of your income plus half the undisclosed income of your spouse, and he would do likewise). Just realize that the tax brackets don't favor you with MFS.

[d] By: Guest
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Don't be stupid. File joint.
[d] By: Guest
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online tax prep programs

run the numbers both ways, file what works best for your circumstance\\Turbotax works for me

[d] By: Guest
Date: unknown---
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File joint return

If he purchased tools, they are deductible on schedule A , subject to 2% AGI, if he was a W-2 employee. If he was a 1099 or sole proprietor he will file Schedule C. The tools can be deductible if they are of nominal value. Also, any supplies that that he used in the business.

[d] By: Guest
Date: unknown---
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MFS is rarely better

And those returns fit a profile I.E.

One partner has heavy medical, the other a lot of MISC deductions. IRS claims 1 in 200 benefit

w/r my practice it seems like 1 in 100.

[d] By: Guest
Date: unknown---
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MFJ will be better

any tax pro will be able to tell you exactly how much your tax liability would be either way without charging you extra. In your case though, MFJ will be better.

[d] By: Guest
Date: unknown---
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While everyone else argues community property

See if any of these peaks your interest:

1--MFS has higher tax rates over MFJ

2--MFS loses standard deduction if one spouse itemizes

3--MFS can potentially use personl exemption

4--HofH standard deduction is higher than MFS

5--AMT hits you at a lower income

6--NO child/dep care credit

7--NO adoption credit

8--NO lifetime learning credit

9--NO Hope credit

10--NO American opportunity credit

11--NO Earned income credit

12--NO deduction for student loan interest

13--NO tax exemption on education bonds

14--REDUCED child tax credit

15--REDUCED retirement savings credit

16--REDUCED capital loss deduction

17--REDUCED deduction for charitable contributions

18--REDUCED deduction for rental loss

19--Loss of deduction for children if not custodial

20--Higher required estimated payments

21--Lower threshold for estimated payments

If you live with your spouse and file separately:

22--Loss of credit for care of elderly

23--Increased taxability for all SS income except SSDI

24--Increased taxability for railroad retirement

25--Loss of deduction for rental loss even if you actively participate

****************

But don't mind me. I don't know what the hell I'm talking about. This is probably only half of the penalties for filing married separate. Some don't matter at all (such as you can't file 1040ez). If I had my list with me, I'd double your reading fun.

One thing I would never do is assume that I know enough about you to eliminate all of these disadvantages just by guessing.

[d] By: Guest
Date: unknown---
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Married filing separate

usually is excluded from most credits that are available.

Go to H&R Block. They can show you the numbers both ways and won't charge you for either return if you decide not to file with them.

[d] By: Guest
Date: unknown---
Response
What is 1 + 100



Helpfulbox Now Offers Free POS Software

for restaurants, kiosk, and any other retails business completely free. It can be used as windows cashier system or as full blown POS. You will able to print to kitchen, display orders on the kitchen screen, manage inventory, employee, report, customer loyalty offers, employee management, delivery address track and much more, all for free.

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