How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask TaxMomNJ Your Own Question

TaxMomNJ
TaxMomNJ, Senior Tax Advisor
Category: Tax
Satisfied Customers: 245
Experience:  7 years experience with tax preparation company, over 500 hours of tax courses taken
Type Your Tax Question Here...
TaxMomNJ is online now
A new question is answered every 9 seconds

Hello, I am currently engaged and living with a lovely woman

Resolved Question:

Hello,

I am currently engaged and living with a lovely woman who is currently unemployed (has been all year) with four dependents. I myself have one dependent I can claim on my taxes. I will probably clear about 50,000 dollars this year and we live in Missouri


What is the best scenario for us Tax Refund wise(getting the most money) for us at the end of the year, and possibly maximize the earned income refund?

BTW we were planning to get married in Jan or Feb, but if we can get a bigger refund we can speed things up a bit ?

A.     Get Married and file jointly claim all the dependents together?

B.     She gets a Job till the end of the year, we don’t get married and we file separately she claims hers I claim mine?


C.     Get Married and she gets a job till the end of the year and file jointly, claim all the dependents together?

D.     Or is there another better option?




Thanks,

Ken H.
Submitted: 5 years ago.
Category: Tax
Expert:  TaxMomNJ replied 5 years ago.

Bigken,

 

Technically, if you and your lovely woman are not married, you are not supposed to claim her dependents. The reason for this is: they could be treated as "qualifying relatives" for you, not qualifying children. However, in order to be qualifying relatives, the children cannot be qualifying children for another taxpayer. The children are qualifying children of their mother.

 

Second, if their mother attains a job now, in the beginning of December, she will probably not make enough to receive a worthwhile tax return at tax time.

 

I will give you an approximate breakdown for what will happen if you get married in 2008, which is probably the most advantageous idea for you two:

 

Income (approx) - $50,000

Standard Deduction (married filing joint) - $10,900

Exemptions (7 exemptions, you, your wife, 5 dependents) - $24,500

Taxable Income ($50k - $10,900 - $24,500) - $14,600

Tax Liability (approx) - $1,463

 

For example, if you have had $5,000 federal taxes withheld from your pay, you will receive a refund of $3,537 ($5,000 - $1,463).

 

Keep in mind, your tax liability is less for a married couple filing joint.

TaxMomNJ, Senior Tax Advisor
Category: Tax
Satisfied Customers: 245
Experience: 7 years experience with tax preparation company, over 500 hours of tax courses taken
TaxMomNJ and other Tax Specialists are ready to help you

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W Matteson, IL
< Last | Next >
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W Matteson, IL
  • I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight. Bonnie Chesnee, SC
  • Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation. John Minneapolis, MN
  • Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with. Orville Hesperia, California
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA
 
 
 

Meet The Experts:

 
 
 
  • Wallstreet Esq.

    Tax Attorney

    Satisfied Customers:

    570
    10 years experience
< Last | Next >
  • http://ww2.justanswer.com/uploads/KU/KUMI95/2013-9-30_195031_kumar.64x64.jpg Wallstreet Esq.'s Avatar

    Wallstreet Esq.

    Tax Attorney

    Satisfied Customers:

    570
    10 years experience
  • http://ww2.justanswer.com/uploads/CU/Cuttinggirl/2011-10-29_03719_wcrop2.64x64.jpg Wendy Reed's Avatar

    Wendy Reed

    Enrolled Agent

    Satisfied Customers:

    3052
    15+ years tax preparation and tax advice.
  • http://ww2.justanswer.com/uploads/CATax/2009-08-04_204548_Mark.jpg Mark D's Avatar

    Mark D

    Enrolled Agent

    Satisfied Customers:

    985
    MBA, EA, Specializing in Business and Individual Tax Returns and Issues
  • http://ww2.justanswer.com/uploads/IN/insearchoftheanswer/2013-8-16_0233_attorney.64x64.jpg Richard's Avatar

    Richard

    Tax Attorney

    Satisfied Customers:

    3229
    29 years of experience as a tax, real estate, and business attorney.
  • http://ww2.justanswer.com/uploads/MY/MyVirtualCPA/2012-7-5_44024_cookmegan1.64x64.jpg Megan C's Avatar

    Megan C

    Certified Public Accountant (CPA)

    Satisfied Customers:

    6121
    Licensed CPA, CFE, CMA who teaches accounting courses at Master's Level
  • http://ww2.justanswer.com/uploads/JG/jgordosea/2012-6-7_43138_GordosVeritas.64x64.jpg jgordosea's Avatar

    jgordosea

    Enrolled Agent

    Satisfied Customers:

    2783
    I've prepared all types of taxes since 1987.
  • http://ww2.justanswer.com/uploads/OZ/ozaukeecpa/2012-6-7_193219_Picture1croppedandshrunk.64x64.jpg MequonCPA's Avatar

    MequonCPA

    Certified Public Accountant (CPA)

    Satisfied Customers:

    2231
    CPA, Over 30 yrs experience w/individuals and small businesses. Masters in Tax.