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Just married- tax edition
Posted on 6/6/16 at 2:31 pm
Posted on 6/6/16 at 2:31 pm
I recently got married, and now I'm not too sure on what to do regarding taxes. Do I change my W4 from single to married? Come next year do I fill jointly or separately?
I make significantly more. Roughly 50k more. She is a full time graduate student.
I make significantly more. Roughly 50k more. She is a full time graduate student.
This post was edited on 6/6/16 at 3:49 pm
6
Posted on 6/6/16 at 2:43 pm to SCndaBR
Not really enough info in the OP, but you should know that you can claim 20% (up to 10k per year) of tuition paid as part of the Lifetime learning credit.
Posted on 6/6/16 at 2:44 pm to SCndaBR
You make 50K more or 50K total?
The married withholding tables assume only one spouse is working. Plus you are already almost halfway through the year.
I'd consider staying single and zero for both of you, maybe do single and one. See how the year ends up and what kind of refund you get, and go from there.
The married withholding tables assume only one spouse is working. Plus you are already almost halfway through the year.
I'd consider staying single and zero for both of you, maybe do single and one. See how the year ends up and what kind of refund you get, and go from there.
Posted on 6/6/16 at 3:30 pm to SCndaBR
My understanding is that if you are married at all during the year, you need to claim married for the whole year. My wife and I file jointly.
Posted on 6/6/16 at 4:38 pm to SCndaBR
for most people, married filing jointly works best.
If you had waited to be married on Dec 31, 2016, you can file jointly.
If you had waited to be married on Dec 31, 2016, you can file jointly.
Posted on 6/6/16 at 8:44 pm to SCndaBR
Don't change your W4 to married if you both work, made that mistake my first year.
Posted on 6/7/16 at 9:25 am to SCndaBR
I would keep single and 0 at least until you get 1 full year without anyone in school. Then you can see what a "stable" year looks like and decide if you want more on your paycheck or more of a "refund".
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