Tax questions after divorce

[~Jackie~ 30]

I noticed on my check that it says 'Married'. Should I have my HR dept change that? Does it make a difference?

Dumb question, but I am on a roll, when filing this year, I will file as Single or HOH?

Jackie

[anitacastillo 0]

I noticed on my check that it says 'Married'. Should I have my HR dept change that? Does it make a difference?

Dumb question, but I am on a roll, when filing this year, I will file as Single or HOH?

Jackie

These aren't dumb!

Payroll tax withholding rates provide an estimated amount to pay now, with your annual tax returns being the "true up". A married & 1 filer will have less withheld than single & 1 filer. May not be significant.

Single vs Head of Household are based on non-spousal dependents. Do you have any? If you do, yes head of household. If not, you will be filing single or married filing separately - depending on when your divorce is final (or it MIGHT be based on separation date -- first date papers filed. please confirm w someone else)

I have been asked the 'what should I declare" question on numerous occasions and it is a tough question because I do not know this person's life situation. Marital status and number of dependence are to give some guidance, but homeownership also matters. When I bought my condo I was adviced to adjust my withholding to S3 from S1.

Remember you may adjust your W-4 (the form to declare your withholding info) anytime you want. Maybe after you do your taxes in the next 5 months, you could reevaluate.

[Jasman0717 9]

There is less tax being taken from your check so you could end up owing money at the end of the year.

[desert_fox 32]

I noticed on my check that it says 'Married'. Should I have my HR dept change that? Does it make a difference?

Dumb question, but I am on a roll, when filing this year, I will file as Single or HOH?

Jackie

You may want to adjust your withholding so that you dont get stuck with a big tax bill when you file your return.

Of course, HOH if you qualify.

[floridalaurie 0]

I noticed on my check that it says 'Married'. Should I have my HR dept change that? Does it make a difference?

Dumb question, but I am on a roll, when filing this year, I will file as Single or HOH?

Jackie

You may want to adjust your withholding so that you dont get stuck with a big tax bill when you file your return.

Of course, HOH if you qualify.

If you are divorced on December 31, for tax purposes you are considered to be unmarried for the entire year. If divorced, your filing status is single

[Kez/JWolf 6]

If your divorce is final and complete on Dec 31st 2007 you can file as single or HOH if you have qualifying Dependants... and yes you should adjust your W4 to reflect your change in status and reduce the amount of tax you may have to pay....

Kez

[Kez/JWolf 6]

I noticed on my check that it says 'Married'. Should I have my HR dept change that? Does it make a difference?

Dumb question, but I am on a roll, when filing this year, I will file as Single or HOH?

Jackie

You may want to adjust your withholding so that you dont get stuck with a big tax bill when you file your return.

Of course, HOH if you qualify.

If you are divorced on December 31, for tax purposes you are considered to be unmarried for the entire year. If divorced, your filing status is single

Their filing status can be single or Head of Household.... if they have no qualifying Dependants then they would file as single if they have qualifying Dependents then they can file as Head of household....

Head of Household would give the best tax allowance and refund...

Kez

[~Jackie~ 30]

No dependants, just my fish, so I guess file single and have them change my status at work also. Thx for the replies.

Jackie

[rebeccajo 14]

If you are still married on December 31, you should still file a joint tax return in order to save money.

[Ban Hammer 13,333]

No dependants, just my fish, so I guess file single and have them change my status at work also. Thx for the replies.

Jackie

jackie, start your savings asap as that tax bill will be larger than you were used to. this is why i advise anyone to hold off on divorce until january if possible.

(learned this when i got divorced mid dec )

Edited November 19, 2007 by charlesandnessa

[anitacastillo 0]

If you are still married on December 31, you should still file a joint tax return in order to save money.

Without his signature I do not believe this is possible. Will need to be married, filing separately --- which is possibly the most expensive filing status.

[rebeccajo 14]

If you are still married on December 31, you should still file a joint tax return in order to save money.

Without his signature I do not believe this is possible. Will need to be married, filing separately --- which is possibly the most expensive filing status.

That's true.

But since there's money involved, even in the nastiest divorces most people are still willing to sign. Even my ex did, and there was nobody more PO'd about the financial aspect of a divorce than him.

[~Jackie~ 30]

It would now be a matter of him trusting me with his financial info and that would require us to have contact, even if by internet. I think given my current frame of mind, I will pay extra not to have that contact. I'm gonna file single and have my HR at work change me to Single for the future checks.

Jackie

[desert_fox 32]

It would now be a matter of him trusting me with his financial info and that would require us to have contact, even if by internet. I think given my current frame of mind, I will pay extra not to have that contact. I'm gonna file single and have my HR at work change me to Single for the future checks.

Jackie

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