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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 15587
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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I just got married and will file taxes jointly with my wife.

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I just got married and will file taxes jointly with my wife.
I am a freelancer/contractor so my taxes are not withheld so I'll have to pay in April.
I make 3 times more money that she does. So she is worried that she wont get money back from taxes because I have to pay more in taxes than her.
For instance, if I will owe $3000 in April and she would have gotten $1000 back (if we were not filing jointly), will I now only have to pay $2000 and she'll get nothing back?
I know that I will be in a lower tax bracket because she brings down our average, my question is really just about out bill/refund canceling out. I hope this makes sense.
Is this how it's going to work?
I didn't work during most of 2012. I just start working on November and will be making 60k a year. She makes about 18K a year.
Submitted: 1 year ago.
Category: Tax
Expert:  Megan C replied 1 year ago.
Thanks for asking your question! I'm sorry to hear about your tax issue and I'm going to try my best to help you understand or resolve it.

Thank you for your question. You and your wife, when filing jointly, will be one taxable entity in the eyes of the IRS. What this means is precisely what she's afraid of - she's paid in through withholdings, and her withholdings will go towards lowering what you ultimately have to pay in. Your income and your tax withholding is combined.

However, if you filed separately (married filing separately) your overall tax bill would, in most circumstances, be much higher than filing joint. Those are your two options - file separate or joint.

If you just started in November, then you shouldn't have too high of a tax liability from your end of the spectrum this year. However, next year you should make some estimated payments to the IRS so that you don't owe a large amount come tax time.

So, essentially it is possible that what your wife is afraid of is true - she may not get taxes back because her income is added to yours, and her withholding goes to lower what you both have to pay in together.

Please let me know if you have further questions. I'm sorry if this is not optimal in your situation. Thank you for using JustAnswer.com

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Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 15587
Experience: Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
Megan C and 5 other Tax Specialists are ready to help you
Expert:  Megan C replied 1 year ago.
Thank you for the positive rating. Please remember me the next time you have a financial question. Simply enter "MyVirtualCPA" in the subject of your question, and it will be routed directly to me. Thank you again for using JustAnswer

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Megan C
Megan C
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Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level