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If you are married...what do you claim for taxes on your check, married or single?

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KaRiSsA
~*~*~*~*~*~*~

Member since 5/05

4648 total posts

Name:
KARISSA

If you are married...what do you claim for taxes on your check, married or single?

Does it matter? Which is better? I am single 0 now. Chat Icon

Message edited 4/18/2006 7:22:17 AM.

Posted 4/18/06 7:07 AM
 
Long Island Weddings
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Tah-wee-ZAH
Kisses

Member since 5/05

15797 total posts

Name:

Re: If you are married...what do you claim for taxes, married or single?

Married. It was better for our personal situation.

So far we didn't have to pay this year and that is with selling investments to buy our home. DH originally figured we should have gotten A LOT (about 4X) more back.

We have since changed our withholding. I'd rather have my money in the bank earning interest. I don't let anyone make money on my money if I don't have to. If I ever have to pay we will take it out of our money market account.

Message edited 4/18/2006 8:19:42 AM.

Posted 4/18/06 7:20 AM
 

Michelle
My Little Yankee Fans

Member since 1/06

4009 total posts

Name:

Re: If you are married...what do you claim for taxes on your check, married or single?

I claim single zero as does husband but we get too much withheld, but we like it because it is a forced savings.

Single zero has more taxes withheld then married zero. The only downfall to having too much withheld is that you are losing the interest you could have earned if you invested the money or saved it. The IRS doens't give interest to hold your money.

Posted 4/18/06 7:55 AM
 

meganNbobby
Our Family is Complete

Member since 5/05

2773 total posts

Name:
Megan

Re: If you are married...what do you claim for taxes on your check, married or single?

it's better than shelling out $$$$ at the end espdecially when you dont have it.... we learned the hard way

Posted 4/18/06 7:58 AM
 

VickiC
Rocking the party

Member since 5/05

4044 total posts

Name:
Vicki

Re: If you are married...what do you claim for taxes on your check, married or single?

We both claim single 0 and I have extra money taken out for both the state and federal. I'd rather get that money back then to have to owe it.

Posted 4/18/06 8:16 AM
 

MelissaG
LIF Toddler

Member since 5/05

427 total posts

Name:
M

Re: If you are married...what do you claim for taxes on your check, married or single?

Posted by KaRiSsA

I am single 0 now. Chat Icon



Ditto

Posted 4/18/06 8:32 AM
 

dandj
Love of my life....

Member since 5/05

3638 total posts

Name:
Denise

Re: If you are married...what do you claim for taxes on your check, married or single?

WE are both single 0 - they take out the most that way and we still had to pay State.

Posted 4/18/06 8:35 AM
 

Diane
Hope is Contagious....catch it

Member since 5/05

28428 total posts

Name:
Diane

Re: If you are married...what do you claim for taxes on your check, married or single?

I claim 1. I never do 0 anymore because they take out more taxes. i would rather have that extra $$ in my paycheck than 1 day out of the year in April. Plus we always get $$$ back anyway.

It is btter to break even .

Posted 4/18/06 8:38 AM
 

NoStressMom
My Heart and Soul

Member since 5/05

10988 total posts

Name:
D

Re: If you are married...what do you claim for taxes on your check, married or single?

ZeroChat Icon

Posted 4/18/06 8:40 AM
 

dengal
Dad of Twins

Member since 5/05

1385 total posts

Name:
The 80's Man
Let's Go Mets!

Re: If you are married...what do you claim for taxes on your check, married or single?

Zero for us

Posted 4/18/06 8:42 AM
 

eroxgirl
My Loves

Member since 5/05

14808 total posts

Name:
Rebecca

Re: If you are married...what do you claim for taxes on your check, married or single?

We claim single 0. I know if we had the money in our hands we'd probably just spend it so this way is better for us.

Posted 4/18/06 9:00 AM
 

MrsRbk
<3 <3 <3 <3

Member since 1/06

19196 total posts

Name:
Michelle

Re: If you are married...what do you claim for taxes on your check, married or single?

I'm married 0, he claims married 1

Posted 4/18/06 9:11 AM
 

baghag
:P

Member since 5/05

10278 total posts

Name:

Re: If you are married...what do you claim for taxes on your check, married or single?

married, 0

Posted 4/18/06 9:12 AM
 

skew
LIF Adult

Member since 5/05

6249 total posts

Name:

Re: If you are married...what do you claim for taxes on your check, married or single?

Posted by Diane

I claim 1. I never do 0 anymore because they take out more taxes. i would rather have that extra $$ in my paycheck than 1 day out of the year in April. Plus we always get $$$ back anyway.

It is btter to break even .



same thing, i agree.

Posted 4/18/06 9:14 AM
 

MissJones
Incredibly blessed

Member since 5/05

19233 total posts

Name:
and grateful!

Re: If you are married...what do you claim for taxes on your check, married or single?

Posted by MrsRbk

I'm married 0, he claims married 1



We're the reverse!Chat Icon

Posted 4/18/06 9:17 AM
 

Lisa
I'm a PANK!!!

Member since 5/05

22334 total posts

Name:
Professional Aunts No Kids

Re: If you are married...what do you claim for taxes on your check, married or single?

we are both single 0 and he has an extra $15 each paycheck taken out for state! I hate NY state!! Chat Icon

Posted 4/18/06 9:20 AM
 

Wendy
Wheeee!

Member since 5/05

13736 total posts

Name:

Re: If you are married...what do you claim for taxes on your check, married or single?

Posted by Michelle

The only downfall to having too much withheld is that you are losing the interest you could have earned if you invested the money or saved it. The IRS doens't give interest to hold your money.



And you are giving the government an INTEREST FREE LOAN!!!!

Posted 4/18/06 9:25 AM
 

Blu-ize
Plan B is Now Plan A

Member since 7/05

32478 total posts

Name:
Susan

Re: If you are married...what do you claim for taxes on your check, married or single?

Posted by Diane

I claim 1. I never do 0 anymore because they take out more taxes. i would rather have that extra $$ in my paycheck than 1 day out of the year in April. Plus we always get $$$ back anyway.

It is btter to break even .



I agree- I don't want to give the gov't my money interest free!

Also, we claim married 1 each. We still get back. I don't want to owe so I don't claim more and it changes from year to year. We adjusted our withholding so we could afford the monthly expenses of the house. Now we have another condo and will probably adjust it again.

Message edited 4/18/2006 9:39:36 AM.

Posted 4/18/06 9:38 AM
 

dpli
Daylight savings :)

Member since 5/05

13665 total posts

Name:
D

Re: If you are married...what do you claim for taxes on your check, married or single?

I claim single, 0, DH claimed married, 1 and we had to pay both federal and state/city. So, he is going to change to 0 also.

Everyone's situation is different, and you can change what is taken out later, if they are taking too much out. The problem with not taking enough out for us is not only that we owe, but this year had to pay a slight penalty because of it Chat Icon

Message edited 4/18/2006 9:54:07 AM.

Posted 4/18/06 9:53 AM
 

lorich
.

Member since 6/05

9346 total posts

Name:
Grammie says "Lora Gina"

Re: If you are married...what do you claim for taxes on your check, married or single?

We're both Single 0 AND I get an extra $5 taken out of State and he gets an extra $10 taken out of State.

Posted 4/18/06 9:57 AM
 

ODonnell
.

Member since 9/05

5983 total posts

Name:

Re: If you are married...what do you claim for taxes on your check, married or single?

We were married for only 2 months of 2005 and I worked the numbers both married and single filing jointly. We got the biggest refund filing jointly as single.

Since then we have both adjusted our withholding - me as married 1 and DH as married 0. It's so worth getting the extra in our paychecks and I'm sure we will still get a refund when we file for this year.

Posted 4/18/06 10:02 AM
 

tann22
LIF Adult

Member since 6/05

2302 total posts

Name:

Re: If you are married...what do you claim for taxes on your check, married or single?



we both file single 0

Posted 4/18/06 10:21 AM
 

Michelle
My Little Yankee Fans

Member since 1/06

4009 total posts

Name:

Re: If you are married...what do you claim for taxes on your check, married or single?

Posted by ODonnell

We were married for only 2 months of 2005 and I worked the numbers both married and single filing jointly. We got the biggest refund filing jointly as single.

Since then we have both adjusted our withholding - me as married 1 and DH as married 0. It's so worth getting the extra in our paychecks and I'm sure we will still get a refund when we file for this year.



Just to let you know, it doesn't matter how many days in the year you are married, you have to file joint or joint filing sperate if you are married at 12/31.

Posted 4/18/06 10:24 AM
 

MrsS2005
Mom of 2

Member since 11/05

12280 total posts

Name:
Brooke

Re: If you are married...what do you claim for taxes on your check, married or single?

I thought once you were married, you can't file as single anymore and the only options were to file married joint or married separate. Is there an advantage to filing single as opposed to married? I thought the "marriage penalty" was eliminated a few years ago.

Posted 4/18/06 12:54 PM
 

nrthshgrl
It goes fast. Pay attention.

Member since 7/05

57173 total posts

Name:

Re: If you are married...what do you claim for taxes on your check, married or single?

I claim married 0.

Posted 4/18/06 1:00 PM
 
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