lol. I think the link we are using is a little simplistic though...and yes, I realize I provided it. It was the best I could find. I do note however that the category closest to my own situation does not seem to take the earned income credit or dependent care credit into account, and thus, I believe, overstates the tax savings. I am correct in saying that you do not get the difference if the credit makes taxes owed a negative number?
Dana On Thu, 29 May 2003 10:20:37 -0700, William Bowen <[EMAIL PROTECTED]> wrote: > married with no kids and one income still files MFJ, even with one > income. I > suppose one could file Single while married with one income but there are > a > number of reasons not to, not the least of which is there is a > significant > deduction (more now that the tax legislation has been signed) for MFJ. It > was explained to me once long ago, but the calculations are lost from my > memory at the moment, must be all the "need this to do my job code" I've > got > stuffed in there now. If I had time to dwell on it, it'd prolly come to > me... > > ^_^ > > hell, even the IRS recommends filling out the forms in multiple ways (if > you > qualify under more than one) to find the best way to get the most money > back. > > Also don't feel too bad about "confidently giving out misinformation" a > simultaneously good and bad thing about our tax system is that it closely > represents fingerprints, no two are exactly the same. > > Besides, only the person that takes the advice can be prosecuted for > mistakes, unless you prepared the form for them...oh, and also their > spouse > (if MFJ), unless you use the Innocent Spouse Relief... > > I better stop now, the permutations could go on for days. > > ^_^ > > will > > ----- Original Message ----- > From: "Dana Tierney" <[EMAIL PROTECTED]> > To: "CF-Community" <[EMAIL PROTECTED]> > Sent: Thursday, May 29, 2003 10:02 AM > Subject: Re: What the Bush tax cut could have paid for > > >> Really. Didn't realize that. Just know that is what I am :) My apologies >> for confidently giving out misinformation. It is a bit bizarre though. I >> don't see how marital status makes a difference to the amount of money >> paid?? Maybe it is intended to compensate for extra costs like >> daycare... >> but there is a separate deduction for that. >> >> Dana >> >> On Thu, 29 May 2003 09:50:25 -0700, William Bowen >> <[EMAIL PROTECTED]> wrote: >> >> > I think it you're required to do Married Filing Jointly oddly enough. >> > >> > Married Filing Seperately (MFS) requires two incomes, >> > >> > You can't file Head of Household if you're married. >> > >> > From the 1040 instructions: >> > Head of household. This status is for unmarried people who paid over > half >> > the cost of keeping up a home for a qualifying person, such as a child >> > who >> > lived with you or your parent whom you can claim as a dependent. >> Certain >> > married people who lived apart from their spouse for the last 6 months > of >> > 2002 may also be able to use this status. >> > >> > IANATA (I am not a Tax Attorney) though. >> > >> > >> > ----- Original Message ----- >> > From: "Raymond Camden" <[EMAIL PROTECTED]> >> > To: "CF-Community" <[EMAIL PROTECTED]> >> > Sent: Thursday, May 29, 2003 9:34 AM >> > Subject: RE: What the Bush tax cut could have paid for >> > >> > >> >> Dumb question - but as the income earner for my family (my wife takes >> >> care of the home and kids), am I Joint/HOH or whatever MFS is? >> >> >> >> > ======================================================================== >> >> === >> >> Raymond Camden, ColdFusion Jedi Master for Mindseye, Inc >> >> (www.mindseye.com) >> >> Member of Team Macromedia >> (http://www.macromedia.com/go/teammacromedia) >> >> >> >> Email : [EMAIL PROTECTED] >> >> Blog : www.camdenfamily.com/morpheus/blog >> >> Yahoo IM : morpheus >> >> >> >> "My ally is the Force, and a powerful ally it is." - Yoda >> >> >> >> > -----Original Message----- >> >> > From: Dana Tierney [mailto:[EMAIL PROTECTED] >> >> > Sent: Thursday, May 29, 2003 10:22 AM >> >> > To: CF-Community >> >> > Subject: Re: What the Bush tax cut could have paid for >> >> >> >> >> > >> > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Archives: http://www.houseoffusion.com/cf_lists/index.cfm?forumid=5 Subscription: http://www.houseoffusion.com/cf_lists/index.cfm?method=subscribe&forumid=5 This list and all House of Fusion resources hosted by CFHosting.com. The place for dependable ColdFusion Hosting. http://www.cfhosting.com Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
