Thursday, January 21, 2010

I got married this year in October, how should I file for my taxes?

I fill out a schedule C for a home business, and he works a normal job, can we file separately as married? What would allow us the most money back? We have no kids, no investments, no interest income, no mortgage, just the basic 1040a with no frills, thanks!I got married this year in October, how should I file for my taxes?
Since you are married, your only choices are Married Filing Jointly and Married Filing Separately. In nearly all cases you will pay less total tax by filing MFJ.





Please igore the idiot that said you have to be married for 6 months to file as married. Your marital status on the last day of the year determines how you file, even if you get married on 12/31.





You won't be filing From 1040-A if you run a home business. You must file Form 1040 with Schedule C to calculate your net profit from the business and Schedule SE to calculate your self-employment taxes if your net profit is $400 or more. On a joint return you will just include your husband's income on the return inaddition to your self-employment income.I got married this year in October, how should I file for my taxes?
TFTP

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You can file as married filing separately if you want to, but it will almost certainly cost you more in total taxes between you than combining everything onto one joint return.
You may want to get some tax prep software or go to a professional, particularly if a business is involved.





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You would file single, because you are filing for last year(06) and you were not married. So single and seperate filing.
Run the numbers both ways (joint return/separate returns) using Turbo Tax or similar software and file whichever way is best.
I believe you have to be married 6 months or more to file married.
Well, filing married has the most exemption if you're not head of household. So, you would probably get more if you were filling together. But if you want to check, do a practice one together and two separate and see that way.
Married filing jointly will get you the best return.





Congrats, Newlywed! :)

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