Do you get more money back on taxes if your married or single?
"get more money back" is the wrong phrase. A (as in single, no dependents) tax filer get to deduct (say) 3,700 as a personal exemption, and 5,800 as a standard deduction, and then he pays taxes on the rest of the income. Marrying you means he can deduct another 3,700* and another 5,800 and then another 3,700 for your (now joint) son meaning his taxable wages, and thus his tax liability, would drop considerably. *unless (in the rare case) your parents are claiming you, but then he could not claim//// LIST YOU on his so-called HOH return in the other case you mentioned. Normally, if married, it is a joint (his and hers) return with both of your names listed as co-filers. (We do not use the term "dependent" for a spouse, even though the personal deduction is the same as a dependent.) ...UNLESS you are also a wage earner, because your wages are combined, so it depends on how much you make. There are also various other credits when the filer(s) have children, so generally being married and filing a joint return is the better deal when children are in the picture. "What you get back" is a function of what you paid in during the year versus what your tax liability is { i e what you would owe if you had paid in zero during the year}. Overpmt = refund, underpmt = send in a check by April 15 of the year. [On a joint return you and spouse also add your "taxes withheld" amounts together, and post the sum.]
Can I still do my taxes if I only worked 2 months?
You very well may not be required to file a return but likely should to collect credits and withholding that can be refunded to you. The amount of that refund depends on the amount of your income for the two months and any other income you may have had.
Why do i pay for taxes for public schools when i have no kids?
I feel the same way for people who pay for private school for their children. Why should we have to pay taxes on something we get no use for? It's not fair. There is no tax incentives or tax breaks for single people with no kids, yet we pay extra taxes for others children. I just don't understand, that's literally taxation without representation. Isn't that one of the reasons we broke away from England in the first place? Please someone explain this to me if possible, also please don't get mad and offended at me, im just a person who wants to know why the money i work hard for goes to something that i will get no use from. I may sound selfish, but like i said before, people who pay for their kids private schools shouldnt either....
Why should people with kids pay less (or zero) taxes?
Ok, I know there's a lot of parents here and everybody loves free money, but be honest, why should a person with a child (a choice by that person), pay less taxes than a childless person? Isn't the childless person (in general) less of a drain on societies resources? Yes I know kids are expensive, but that doesn't mean that people without kids should subsidize those who have them. I want a Maybach (look it up if you don't know), or a vacation home in France. So that's an expense, why are my wants different from a chick who wants a baby simply "just because"? I mean, I think I'd be a great sailor, I should have a yacht too! Sound dumb? No more less intelligent than some of the reasons people have kids! I think you should start out with 2 exemptions and every time you have a kid, you lose one! Anyone agree? Please try to come up with answers other than "kids are expensive", because it IS an expense of your own choosing. Thank you.
I just got married, will I get more money back in taxes?
I will have only been married for the last 2 months of 2011 and my current w4 says single with 0 for total allowances that I am claiming. I have yet to legally change my last name and I wasn't sure if there were time frame stipulations as far as filing single/married. I was just told that it is more beneficial to people who file married as far as getting better tax benefits. I have just never been very good with all that tax jazz...no need to make me feel like an idiot for trying to educate myself...
Tax Reform: Should people who have kids be taxed more than child-free couples and singles?
In many, if not most, of the OECD countries, the state pays money to families that have children. This is to offset the population decline that most of them are seeing in the upper and middle classes. This subsidy follows the dictum of wise policy: subsidize that which you want to increase. One of the emerging problems in Europe since the expansion of its borders into areas like Rumania or Bulgaria is the migration of extremely large families into urban areas like Berlin or London with the express intent on existing solely on the proceeds of the Kindergeld. At this point, more conservative parties begin to recognize that the subsidy is working against national aims. One of the party planks of the UKIP Party in Britain is to limit that distribution to families of three children. This is not exactly a "one child policy," but may resonate with enough people to bring people into this anti-immigration party.The idea, then, of taxing families with children more is clearly against the national interest, particularly in countries that are being forced to import labor to offset population losses or aging workforces.
How can I get less taxes taken out of my paycheck?
The tax withholdings depend on: + your gross salary + any pre-tax deductions (HMO, 401(k), etc) + how many exemptions you claim Things you can do to have less tax withheld: + increase pre-tax deductions (e.g. maximize your 401(k) contribution) + increase your exemptions claimed. You can claim additional exemptions if you have deductions to support them (e.g. mortgage interest, real estate taxes, etc.)
Why am I, as a single person, forced to pay more taxes?
Assuming this refers to personal federal income taxes in the United States, I’ll question the assumption. Can you specifically describe how you are being punished? And you are forced to pay more taxes than whom? Details, please!Here’s a nice little article that deals with the subject of the marriage penalty. Two people with similar incomes will generally pay more tax as a married couple than as two single people. However, if their incomes are more unequal then it can turn out that they pay less total tax as a married couple. The simple reason is that the personal income tax laws are written around the concept of a household so that the income is figured as for the whole household, not per individual. Two married people with high incomes will have a household with a doubly high income that might push into a higher tax bracket. But if a wage earner is married to someone without an income, like a spouse who stays at home to take care of children, then the earner will have more exemptions and thus lower tax.Should You Get Married (Or Divorced) For Tax Reasons?True story. A number of years ago some friends of mine decided to divorce. They had been married right out of college only a couple of years earlier and were both earning good money. Their decision was entirely financial, to reduce their taxes. They still lived together, wore their wedding rings, bought property, and raised a family. I never asked if they were still single.It’s easy to find fault with something but a lot more difficult to come up with an alternative that is better and viable. If you have such a solution please describe it and ask for feedback. Quora has lots of people with opinions who will be happy to share their thoughts. Make sure that your solution is fairer but that it generates at least as much revenue without any extra complexity or other undesirable side effects.