tax return
Nov 2nd 2008, 4:56 pm
#16
BE Forum Addict
Joined: Mar 2008
Location: Santa Cruz, CA
Posts: 4,913
Re: tax return
You do not have to file if your income is below certain limits and there are no other special circumstances that would require you to file.
Quoting the IRS web site:
Every year millions of people file Federal Income Tax returns even though they are not required to.
Nov 3rd 2008, 12:01 am
#18
Arrogant ****
Joined: Jan 2004
Location: Plano, TX
Posts: 4,323
Re: tax return
That is an often repeated myth but it isn't true.
You do not have to file if your income is below certain limits and there are no other special circumstances that would require you to file.
Quoting the IRS web site:
See Do You Need to File a Federal Income Tax Return? on the IRS web site for details.
You do not have to file if your income is below certain limits and there are no other special circumstances that would require you to file.
Quoting the IRS web site:
See Do You Need to File a Federal Income Tax Return? on the IRS web site for details.
Still can't work out why MsElui would choose to forgo her full range of tax credits and allowances by not filing jointly with her husband.
Nov 3rd 2008, 12:20 am
#19
SUPER MODERATOR
Joined: Dec 2005
Posts: 88,105
Re: tax return
Niether can I...our accountants have always prepared ours jointly. If they use an accountant it may be best to find a new one.
Nov 3rd 2008, 12:33 am
#20
Just Joined
Thread Starter
Joined: Oct 2008
Posts: 7
Re: tax return
guys, dbj1000 really helpful advice. cheers.
I was told I had to pay fed / state tax as L is a working visa.
and I don't do charity/don't own any business.
then what tax refund will i get ?
is it that employers don't always deduct the correct amounts ?
I'm also paying medicare thing though I got private medical covered.
Can I not pay for that ?
I'll need an accountant.
cheerio
I was told I had to pay fed / state tax as L is a working visa.
and I don't do charity/don't own any business.
then what tax refund will i get ?
is it that employers don't always deduct the correct amounts ?
I'm also paying medicare thing though I got private medical covered.
Can I not pay for that ?
I'll need an accountant.
cheerio
Nov 3rd 2008, 12:50 am
#22
Arrogant ****
Joined: Jan 2004
Location: Plano, TX
Posts: 4,323
Re: tax return
guys, dbj1000 really helpful advice. cheers.
I was told I had to pay fed / state tax as L is a working visa.
and I don't do charity/don't own any business.
then what tax refund will i get ?
is it that employers don't always deduct the correct amounts ?
I'm also paying medicare thing though I got private medical covered.
Can I not pay for that ?
I'll need an accountant.
cheerio
I was told I had to pay fed / state tax as L is a working visa.
and I don't do charity/don't own any business.
then what tax refund will i get ?
is it that employers don't always deduct the correct amounts ?
I'm also paying medicare thing though I got private medical covered.
Can I not pay for that ?
I'll need an accountant.
cheerio
YOU choose how much tax the employer withholds, by using the W4 form to specify how many deductions to apply. YOU are responsible for withholding the correct amount of tax. Your employer is NOT the responsible party here. This isn't the PAYE scheme.
If you over-withhold, you get a refund after you file your taxes. How much depends on how much you over-withheld.
If you under-withhold, you pay what you owe at the end of the year. If it's too high a percentage of what you should have withheld, you also pay a fine and interest, because that's money that you owed the IRS through the year.
I made a relatively minor miscalculation on my withholding last year, and owed a few thousand in tax at the end of the year. I avoided a fine because I'd never done it before, and because the percentage of my overall tax bill was relatively low. However, it resulted in me paying Estimated Taxes this year, where I have to pay 4 lump sums to the IRS, totaling the under-payment from last year. Even though I adjusted my withholding this year to correct last year's mistake, I won't get that additional Estimated Tax back until I file this year's return and get a big refund.
Just get a good accountant.
And YES, you have to pay Medicare. It's called funding the medical system for those less fortunate than yourself, and it's not optional (much as many in this country would like it to be). You can't just opt out of paying taxes for things you don't need. I'm sure you've never used Palin's bridge in Alaska either!
Nov 3rd 2008, 12:54 am
#23
Heading for Poppyland
Joined: Jul 2007
Location: North Norfolk and northern New York State
Posts: 14,719
Re: tax return
http://www.taxfoundation.org/research/show/1815.html
"Today more than 18 million people live in cities which impose an income tax, and in addition countless other people who commute to these cities pay a tax on the income they earn within city boundaries. The city income tax, once considered a novelty, now provides substantial revenue in more than 170 municipalities, including 21 cities with population of at least 100,000 individuals.
Much of the expansion of the city income tax has place in recent years,..(etc).."
In New York State, two cities have income tax; Yonkers and New York City.
Nov 3rd 2008, 2:16 am
#25
L2, GC, Surrey, OH, TX!
Joined: Aug 2007
Location: Surrey to Dallas (via Ohio)!
Posts: 6,363
Nov 3rd 2008, 2:23 am
#27
BE Forum Addict
Joined: Mar 2007
Posts: 4,059
Re: tax return
Depending on personal circumstances, in Ohio it can be cheaper to do Married Filing Separately. You pay more to the feds, but less to the state, and wind up ahead. Couples have to run the numbers both ways to find out which one is better for them. IIRC there aren't many states in which this is the case.
Nov 3rd 2008, 2:27 am
#28
Queen of my house
Joined: Aug 2007
Location: Ohio
Posts: 5,043
Re: tax return
Yes, some areas have an earned income tax. Some of them are specifically earmarked for schools which keep the property taxes down. You only pay on income earned, not pension, unemployment, profits from real estate, etc.
Nov 3rd 2008, 2:29 am
#29
Queen of my house
Joined: Aug 2007
Location: Ohio
Posts: 5,043
Re: tax return
Depending on personal circumstances, in Ohio it can be cheaper to do Married Filing Separately. You pay more to the feds, but less to the state, and wind up ahead. Couples have to run the numbers both ways to find out which one is better for them. IIRC there aren't many states in which this is the case.
Nov 3rd 2008, 2:33 am
#30
BE Forum Addict
Joined: May 2007
Location: O.C. CA
Posts: 3,694
Re: tax return
You would have to file a tax return even if you'd been here less than 180 days. This isn't Britain. You have to file a tax return every year, even if you don't earn anything.
It's up to you whether you adjust your withholding because you're now married. Given that you're finding the whole tax thing daunting, I suggest you withhold lots this first year (unless you need that extra cash to live on) and then get a chunk back as a refund. People will tell you you're making an interest-free loan to the government, but if you're unsure it's better to be safe than to find yourself owing a big sum when you file your return.
Pay for a good accountant to file your first year's taxes. You don't sound like someone who's happy to work this all out for yourself (it can be done - all the info is on the IRS website, but it's a matter of personal taste whether you enjoy working out obscure tax issues). The first year here in the US you're not going to be a simple case that some moron at H&R Block can deal with, and you're probably not going to be able to struggle through with TurboTax. Find a qualified tax accountant who's done expatriate tax returns - many things that you paid in the UK may be deductible against your US taxes now that you're resident here for tax purposes.
It's up to you whether you adjust your withholding because you're now married. Given that you're finding the whole tax thing daunting, I suggest you withhold lots this first year (unless you need that extra cash to live on) and then get a chunk back as a refund. People will tell you you're making an interest-free loan to the government, but if you're unsure it's better to be safe than to find yourself owing a big sum when you file your return.
Pay for a good accountant to file your first year's taxes. You don't sound like someone who's happy to work this all out for yourself (it can be done - all the info is on the IRS website, but it's a matter of personal taste whether you enjoy working out obscure tax issues). The first year here in the US you're not going to be a simple case that some moron at H&R Block can deal with, and you're probably not going to be able to struggle through with TurboTax. Find a qualified tax accountant who's done expatriate tax returns - many things that you paid in the UK may be deductible against your US taxes now that you're resident here for tax purposes.
