Disney Information Station Logo

Go Back   The DIS Discussion Forums - DISboards.com > Just for Fun > Community Board
Find Hotel Specials & DIScounts
 
facebooktwitterpinterestgoogle plusyoutubeDIS Updates
Register Chat FAQ Tickers Search Today's Posts Mark Forums Read


Reply
 
Thread Tools Rate Thread Display Modes
Old 01-27-2015, 06:09 PM   #1
can'tgetenufofwdw
Mouseketeer
 
Join Date: Feb 2002
Posts: 163

file married single or joint??

We have nothing to itemize, nothing to claim. Pretty simple and straight forward. Working middle class. Small mortgage. When I do our taxes on Turbo tax separately we come out about $700 ahead versus if we file married jointly. Why would this be????? Should I do this or have someone do my taxes for me. I always had someone do them before when we had kids in the house and we had kids in college.
can'tgetenufofwdw is offline   Reply With Quote
Old 01-27-2015, 06:12 PM   #2
disneygrl704
Mouseketeer
 
disneygrl704's Avatar
 
Join Date: Jan 2013
Posts: 203

We use turbo tax as well. I don't know why the difference but there always is one. We just go with whichever is going to get us back more money.
disneygrl704 is offline   Reply With Quote
|
The DIS
Register to remove

Join Date: 1997
Location: Orlando, FL
Posts: 1,000,000
Old 01-27-2015, 06:15 PM   #3
sam_gordon
DIS Veteran
 
Join Date: Jun 2010
Posts: 10,297

Be careful. When I've checked in the past, as soon as I click "file separately", I get a bigger refund. Great, right? But I'm pretty sure that's a filing for ME, not including DW. So then I'd run a sheet for her and I'd have to pay a bunch.
__________________
Freedom W. Caribbean June 15 - June 22, 2014 Video
Oasis W. Caribbean June 8 - June 15, 2013 Review
Barcelo Maya Palace June 29-July 6, 2012
Bay Lake Towers, WDW June 1 - June 6, 2011
Polynesian, WDW Dec. 29, 2008 - Jan. 3, 2009
Wilderness Lodge, WDW, June 2005
Polynesian, WDW Sept. 7 - Sept. 14, 2001
Caribbean Beach, June 1993
sam_gordon is offline   Reply With Quote
Old 01-27-2015, 06:27 PM   #4
bcla
DIS Veteran
 
Join Date: Nov 2012
Location: San Francisco Bay Area
Posts: 3,763

Intuit has an article on when it might make sense to do married filing separately.

https://turbotax.intuit.com/tax-tool.../INF22492.html

By the way, it's not exactly "married single". It's "married filing separately".
bcla is online now   Reply With Quote
Old 01-27-2015, 06:56 PM   #5
can'tgetenufofwdw
Mouseketeer
 
Join Date: Feb 2002
Posts: 163

Thanks for the replies
can'tgetenufofwdw is offline   Reply With Quote
Old 01-27-2015, 10:04 PM   #6
NewRVLady
DIS Veteran
 
NewRVLady's Avatar
 
Join Date: Jan 2014
Posts: 1,459

That is odd...it is almost always better to file Jointly
NewRVLady is offline   Reply With Quote
Old 01-27-2015, 10:32 PM   #7
JPM3
Earning My Ears...and much more, I hope.
 
JPM3's Avatar
 
Join Date: Jan 2015
Location: North New Jersey
Posts: 10

Go with the more favorable filing status according to Turbo Tax.

There are a multitude of explanations for the discrepancies indicated - income disparity between spouses, passive income, income source, State-specific community property law, etc.

From what I've seen, married couples who have similar incomes and who elect not to itemize deductions incur lower tax obligations by filing as MFJ status.
__________________


"I am hungry. Therefore I am."
JPM3 is offline   Reply With Quote
Old 01-28-2015, 08:32 AM   #8
puffkin
DVC Owner- SSR & AKV
 
puffkin's Avatar
 
Join Date: Apr 2001
Location: Reading, PA
Posts: 9,297

Quote:
Originally Posted by can'tgetenufofwdw View Post
We have nothing to itemize, nothing to claim. Pretty simple and straight forward. Working middle class. Small mortgage. When I do our taxes on Turbo tax separately we come out about $700 ahead versus if we file married jointly. Why would this be????? Should I do this or have someone do my taxes for me. I always had someone do them before when we had kids in the house and we had kids in college.
If you have mortgage interest and state income taxes withheld , you do have things to itemize....the question becomes though do you have enough to beat the standard deduction?
__________________
~Kelly~

Veteran of 25+ trips to the World
puffkin is offline   Reply With Quote
Old 01-28-2015, 08:50 AM   #9
NewRVLady
DIS Veteran
 
NewRVLady's Avatar
 
Join Date: Jan 2014
Posts: 1,459

OP read this-

http://money.usnews.com/money/blogs/...-right-for-you

If you are average Middle class-then either Turbo Tax has a glitch OR you are entering data wrong?
NewRVLady is offline   Reply With Quote
Old 01-28-2015, 08:52 AM   #10
Happy Snowman
DIS Veteran
 
Happy Snowman's Avatar
 
Join Date: Jul 2014
Posts: 1,513

Quote:
Originally Posted by bcla View Post
Intuit has an article on when it might make sense to do married filing separately.

https://turbotax.intuit.com/tax-tool.../INF22492.html

By the way, it's not exactly "married single". It's "married filing separately".
This link takes me to an ad to by Quickbooks.
Happy Snowman is offline   Reply With Quote
Old 01-28-2015, 09:14 AM   #11
TAX GUY
DIS Veteran
 
TAX GUY's Avatar
 
Join Date: Jun 2014
Location: CENTRAL MA
Posts: 599

Quote:
Originally Posted by can'tgetenufofwdw View Post
We have nothing to itemize, nothing to claim. Pretty simple and straight forward. Working middle class. Small mortgage. When I do our taxes on Turbo tax separately we come out about $700 ahead versus if we file married jointly. Why would this be????? Should I do this or have someone do my taxes for me. I always had someone do them before when we had kids in the house and we had kids in college.
Could be a variety of things. Keep in mind, IF one is itemizing deductions (you mentioned a small mortgage) then the other MUST also itemize, even if that means its LESS than the standard deduction. Make sure everything is taken into account when comparing MFJ vs MFS (that's Married Filing Separate, not single).
TAX GUY is offline   Reply With Quote
Reply



Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

facebooktwitterpinterestgoogle plusyoutubeDIS Updates
GET OUR DIS UPDATES DELIVERED BY EMAIL



All times are GMT -5. The time now is 12:55 AM.

Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2015, Jelsoft Enterprises Ltd.

Copyright © 1997-2014, Werner Technologies, LLC. All Rights Reserved.

You Rated this Thread: