Taxes question: Big difference between married filing jointly and singly?

[Kodos]

Should I expect a significantly bigger refund if I file jointly?

[SackAttack]

I don't know about signifcantly. I do know that prior to the Bush tax cuts, filing jointly was often a real good way to pay *more* in taxes, but the tax cuts addressed at least part of the "marriage penalty." I don't know how much, nor if the removal of the penalty means greater savings than single filings, but....

[SoxWin]

If you're using Quick Tax or Turbo Tax or something of that ilk, run the return(s) both ways and see which works the best. Using those programs it usually doesn't take much more then half an hour to do your average tax return.

[Samdari]

Originally Posted by SackAttack

I don't know about signifcantly. I do know that prior to the Bush tax cuts, filing jointly was often a real good way to pay *more* in taxes, but the tax cuts addressed at least part of the "marriage penalty." I don't know how much, nor if the removal of the penalty means greater savings than single filings, but....

Well, under the old system, you still paid the marriage penalty if you marked married filing singly. You had to just both file singly (which was tax evasion) to avoid it.

[cthomer5000]

Originally Posted by SoxWin

If you're using Quick Tax or Turbo Tax or something of that ilk, run the return(s) both ways and see which works the best. Using those programs it usually doesn't take much more then half an hour to do your average tax return.

Unless EA has released "Taxes 2004" for the PS2, my guess is Kodos ain't gonna touch it.

[stevew]

Get the program TaxAct. Its even free

[Kodos]

Originally Posted by cthomer5000

Unless EA has released "Taxes 2004" for the PS2, my guess is Kodos ain't gonna touch it.

Already used Turbo Tax and am done. Thanks guys. I filed jointly. In case it's ever a trivia question.

[TLK]

Originally Posted by cthomer5000

Unless EA has released "Taxes 2004" for the PS2, my guess is Kodos ain't gonna touch it.

That was good..... If there was a thumbs up smiley.... this deserves it....