Saturday, August 21, 2010

If two people are married and only one works, they have children- would it profit them more to file their?

taxes as married or for one parent to file head of household and carry all the children. They are eligible for a refund.If two people are married and only one works, they have children- would it profit them more to file their?
If only one works, then it really makes no difference. My husband and I file separate for a different reason, but I keep the children under mine, and we still get the same amount back that we would if we both filed.If two people are married and only one works, they have children- would it profit them more to file their?
I believe that filing jointly will result in a bigger refund.
If you are married and live together you have two choices. Married Filing Joint or Married Filing Separately. The later (MFS) is rarely an advantage. Head of Household is not an option if you are married and live together. You may know people that do that but it is not legal and they will pay penalties when they are discovered. If only one of you has income it is also unlikely that you would get a greater refund. I sure know that people do some strange things and get these really big refunds but it is also true that the bigger the fraud the bigger the penalty (Jail Time if on a large scale). The best way to handle your taxes is to contact a tax professional, they frequently save you more than the cost of their service and provide peace of mind that you have filed properly.
You can't file head of household if you're married. You're only options are married filing joint or married filing separate. In your situation, I'll almost guarantee that it'll benefit them more to file as MFJ rather then MFS. For more information on filing status, check out IRS publication 501 (linked below).





From the IRS website:





';Head of Household





You may be able to file as head of household if you meet all the following requirements.





1. You are unmarried or “considered unmarried” on the last day of the year.


2. You paid more than half the cost of keeping up a home for the year.


3. A “qualifying person” lived with you in the home for more than half the year (except for temporary absences, such as school). However, if the “qualifying person” is your dependent parent, he or she does not have to live with you. See Special rule for parent, later, under Qualifying Person.';
You are not allowed to file head of household if you're married. Your choices are married filing joint, or married filing separate. Under some fairly rare circumstances, filing separate might be better, but that would be very unusual in the circumstances you describe.





And by the way, tax rates are higher for head of household than for married filing joint. H of H is a lot better than single, though.
You have to file as married. Since only one spouse is working and the only source of income, it would be better to file jointly.
you can still file married, it wont make any difference I dont work either.
yes because you are using them as dependents and you get more money i think.
i believe the one working should file as head of household and married. thats what i did for the six years i was married..i was not working and my ex was..we always got a nice refund back...good luck!
There are so many confusing answers. No you can file Head of Household. If married and living together, you have no choice, well it's a better choice just to file Married Jointly. One reason is, most ppl get the exemption part confused as that is going to be a refund. Which it isn't. Married filing Jointly even if one make income and they have children is a lot better. Yes u still get the Earn Income Credit, which is the refund a lot of ppl look forward too. The exemptions are just to lower your income amount, which ppl c as; single $4,500- Head of household- $7,500...ect...


These figures only deduct ur income amount...ex. u make 25,000 , then the expetion of married filing jointly is $9,500 that is subtracted from 25, 000 which now it 14,000. then you have the personal exemptions and dependents at 3,100 each person...so if it's u, ur husban, and 3 kids...then that is 3,100 times 5 which is 15,500..that is subtracted from the 14,000 which make ur tax liability income -0-...then later the credits are federal withheld comes in to give u a refund.

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