10
Tax time! Got a question?
Now although I've already done my taxes - yeah I know it's a little out of control - many of you might have lingering questions about your taxes. Next month Marketplace Money is doing a special show focused on taxes and we want to know what you'd like to hear.
Got a story idea? Have a tax related question? Post a comment here or contact us!
What's the best way to ensure that my wife and I pay enough in taxes during the year? My wife works three part-time jobs and I work 1 full-time job. Last year we decreased her withholdings to zero and mine to 4 (we have two kids). We had $20k in mortgage interest to write off but still owe $3k in taxes.
I work a part-time day job and also run my own industrial jewelry business, and I find that most tax advice tends to address either my day job or my business, but not both.
As my business grows, I'm looking for advice on how to plan ahead to balance estimated tax payments with what's withheld from my day job paycheck, what my retirement plan options and limits are for each, etc.
I hear this type of combination is becoming more common -- but where can we find advice on balancing it all tax-wise?
Thanks!
Why oh why do the IRS and states make it so difficult to be a household employer? We had a full time babysitter when I was working, now that I am a full time stay at home dad, I am worried about ever going back to work and having to deal with the constant hassle of having a household employee. Is there an easier way to do this?
The Social Security, IRS and state (in my case Maryland) tax organization have an easy time handling individuals and (I assume) businesses, but having a household employee puts you someplace in-between and neither organization can easily accommodate you. I used to get a letter every year from Maryland asking me to file sales or property taxes on my business property because I had to get a Maryland Employer ID. I guess they assumed that I must have a business.
I can't even imagine what it must be like now that I am in California.
My German husband was not legal to work in the US until December 27, 2010, making his US income effectively $0 for the year. I'm getting conflicting advice on how to file my taxes for the year. We were married in August 2010 and I changed my W-2 as of that date to reflect my newly married status. So... married filing jointly? Married filing separately? Are they days of the 1040EZ over now?!
My husband was deported last year, pretty much leaving me high and dry financially. I've been unable to afford to file for divorce yet, and I'm finding that i'm being totally screwed when it comes to my taxes, too. "Married filing separately" removes almost all deductions I would normally be entitled to, such as the Hope Credit, and now it appears i'll be forced to pay in.
Any suggestions?
