The Tax Questions Blog

Question: Filing jointly--will I have to pay less?

I figured that I will owe over $1000 to state and federal combined. I have filed 1 married. My husband has made a lot less than me this year as he is now a student and recieved the GI bill and military settlement which is all non-taxable. Will this help me in any way to file with him if my income is substantially larger than his?

Answer: Welcome to the real world of taxes. To make this as easy as possible, just do this. Have him figure out his return, you figure out yours. Add it together. Then you file jointly, and add it together. Whichever is larger for you, take it. Note that there are many different things you can do. You can file as head of the house or even claim him as a dependent. So take a little time and plug in those different things and you might make a little extra cash.

Good Luck!!

CONSIDERATIONS FOR TAX-QUALIFIED RETIREMENT PLANS

In accordance with the IRS cyclical submission process for submitting a tax-qualified plan for a determination letter as to its continuing tax-qualified status under Section 401(a) of the Internal Revenue Code of 1986, as amended (the "Code"), employers in "Cycle E" must submit their tax-qualified plans to the IRS no later than January 31, 2011. The staggered submission system is based on the ...

Related posts

• Taxable Military Income
• Taxable Military Pay
• Military Taxable Pay
• Military Taxable Income
• Taxable Pay
• Taxable Non Taxable Income
• Taxable And Non Taxable Income