Tax filing while removing conditions

[KennethBk 67]

1 hour ago, Scandi said:

No it doesn't matter if you file jointly or separately, that's a personal choice and not an immigration issue at all. Your spouse's SSN and your address is the same and will show on both your return transcripts, that's what USCIS want to see. So instead of sending a joint tax transcript to USCIS, you send both your and your spouse's return transcripts if you file separately. That's all, no difference otherwise.

Awesome, thank you! I was just wondering how that would work.

[KennethBk 67]

5 minutes ago, SteveInBostonI130 said:

???

 

Did you pay over $25k on Fed income tax only, or did you pay $25k for Fed income+Social Security+Medicare taxes?

 

Some simple tax math:

 

$160,000 

-$25,900 standard deduction

=$134,100 taxable:

MFJ Liability: $9,615+$11,121 = $20,736

-$2000 qualifying child credit (1 child)

= $18,736.

 

The above, if you made $169,999 together:

$20,936 tax owed as MFJ

 

By my calculation above, you should be getting between $4k to $6k+ refund if filing MFJ and if you payed over $25k in just Fed income tax.

 

If the $25k was for fed income+ssi+med, then up to $13k was just for ssi+med = $12k in fed income tax withholdings.  In this case you would owe $6.7k to $8.9k, depending on the exact amounts.

 

Also note, the above is assume all income is wage income.

Thanks Steven for the detailed explanation, I think the 25k was for fed income+ssi+med and the total income was $170k if filing jointly. Do you think filing married separately will reduce the amount owed? The tax pro suggested our child is claimed on the lower income and that should reduce the amount owed. 

[SteveInBostonI130 3,434]

1 hour ago, KennethBk said:

Thanks Steven for the detailed explanation, I think the 25k was for fed income+ssi+med and the total income was $170k if filing jointly. Do you think filing married separately will reduce the amount owed? The tax pro suggested our child is claimed on the lower income and that should reduce the amount owed. 

 

What is your income and what is your Spouse's income?

[KennethBk 67]

1 minute ago, SteveInBostonI130 said:

 

What is your income and what is your Spouse's income?

Mine is 94k, while my spouse is 76k.

[SteveInBostonI130 3,434]

17 minutes ago, KennethBk said:

Mine is 94k, while my spouse is 76k.

The way to owe less is if one of you could claim Child EIC, and both of you seem to be above the threshold for MFS individually.

 

For MFS, you would owe about $13.5k and your spouse would owe $9k.  One of you can claim the child dependent for the $2k credit.  Total for both of you would be about $20.5k owed.  For MFJ the numbers come to about $20.9k. There seems to be about $450 benefit for MFS.

 

This is not accounting for tax penalties for owing more than 10% of your tax liability.

 

Go meet with your tax pro and have him/her run the exact numbers for both scenarios.

 

Edited February 19, 2023 by SteveInBostonI130