Tax question

ChrisSlicks · 01-19-2010, 04:36 PM

Quote:

Originally Posted by TARDCORE

Yes sir I did and I used it last year as well. I am just really confused how taxes work. The way I see it is I am punished for being single. I am so confused on this. I don't like the females who work for the agency I do because they are... manly. lol but seriously my coworkers who are married to fellow agents have 2 incomes which are both really good. They get huge returns and with dual incomes, they bank! I am single and get raped on the rent for my condo, raped on taxes, and have 1 income. What did you do to not owe before you got married? Honestly even if I broke even for next Id be happy. Any advice for next year? Can I write off the tax I paid for my Z?

Claim 00 if you have no dependents and no mortgage. If you claim 01 and have no state deductions you will get screw-ed over.

Being married doesn't get you any tax breaks unless you start reproducing, and believe me that will cost you a whole lot more in the long run. Most of the deductions for married filing jointly are simply double what the single person deductions are. The main benefit is if your spouse is making less money then you effectively are "averaging out" your 2 incomes for tax purposes. Besides tax the only other financial benefit of being married is that you are only making one rent/mortgage payment.

In the long run being married costs you a lot more than being single, first you have to pay for the wedding, the honeymoon, and 7 years later there is a 50% chance that you have to pay for the divorce and several years of alimony.

So the moral of that little story is don't do it, unless you are 100% sure that it is Mrs Right and you are willing to work on it staying that way.

Oh, and yes, you can deduct any sales (and excise) taxes that you payed on your car. The program should have explicitly asked you that question unless you filed 1040EZ.