Taxing Tiger LSU Fan Prairieville Member since Mar 2013 40 posts
re: Help with taxes: Tax withholdings (Posted on 3/23/14 at 8:43 pm to Hu_Flung_Pu)
It's a pretty safe bet that MFJ is more beneficial. I'd think that whatever online software you used would have alerted you if it was more beneficial to go the MFS path. The software we use at our firm (Lacerte) provides you with this analysis. See if you can log back into your account...there may be an option to view a similar type of report.
re: Help with taxes: Tax withholdings (Posted on 3/23/14 at 9:19 pm to Taxing Tiger)
If you live in Louisiana and don't have a pre-nup, there is a 99.9 percent change MFJ will be better.
If you do have a pre-nup (i.e. the pre-nup calls for seperate property and one of you makes a lot more than the other) or you don't live in a community property state (LA and Texas are community property states) sometimes it can make sense to file MFS.
It seems to work best in a non-community-property state when one spouse makes the vast majority of the money, and the other spouse makes much less money AND has huge unreimbursed medical bills.
tirebiter LSU Fan ATL Member since Oct 2006 5135 posts
re: Help with taxes: Tax withholdings (Posted on 3/24/14 at 11:53 am to Hu_Flung_Pu)
You should be able to use something like this payroll deduction withholding calculator to establish the amounts for withholding to avoid owing additional tax at filing, if that is your goal. If you use your current W-2's for you and your wife it should be easy.