How Marriage Will Affect Your Taxes

[@LYFEAccounting]

Suggested Video to Watch Next: "Tax Advice for Every Income Level" - kzbin.info/www/bejne/oaWkhJWVo61jqq8

[@unikkamccoy5785]

Yes please make that video. Much appreciated

[@LYFEAccounting]

You got it!

[@karlondasimmons391]

Yes, I would definitely love to get more information on when to file married filing separate vs married filing jointly. Thanks for breaking this information down in the simplest form. You’re Awesome!!!

[@InTheMindOfficial]

From what I know, general rule of thumb, file separely. If you both earn the same amount and have no joint assets, but if you have joint assets, and/or one partner earns a much larger sum, file together

[@InTheMindOfficial]

Another thing to look at is that table, it might vary year to year, but if your combined income is right on the cusp, it might be viable to file together over separate, but that's legit counting pennies at that point

[@emmawiley7173]

No music PLEASE. ....Your videos are great and informative. Keep doing what you are doing! Thanks i share many of your videos.

[@LYFEAccounting]

Thank you for sharing! But this video didn't have music, right?

[@pinkmink10]

Thank you ! You broke it down so well I'm about to switch over to married filing jointly.

[@LYFEAccounting]

Thanks for tuning in!

[@getemboi2525]

I'll like to hear and see a video on when someone should file seperately and jointly. Thanks. Great information.

[@unclebishoppeskitchen5838]

That answers my question. I was married in the tax season 2022 and was on the fence but now I'll file jointly.

[@Kavehthekook]

You might have done this already since this vid is 2 years old, but getting a better mic to get rid of the echo will make your vids even better. Love your vids

[@michaelmcgovern3434]

Great job on this video, it was super clear and the examples were helpful. One small bit of feedback, the audio was slightly echo-y. Otherwise perfect video!

[@mercerpickens]

Great content! Your presentation is clear, concise, and professional. A piece of constructive criticism: some sound treatment / audio compression would greatly improve the professional sound of your vocals.

[@LYFEAccounting]

Thanks for you the constructive feedback! I’m definitely going to try to step it up, I guess I should try new equipment?

[@mercerpickens]

@@LYFEAccounting Your lapel mic is a great choice for what you're doing. The issue I'm hearing is "room sound," aka reverb. I'll send you a message with some ideas.

[@austinjabusch3831]

Great video! I LOL’d when I watched the math thinking cut scene 😂

[@LYFEAccounting]

😂😂

[@Always_learning444]

Thank you for the great information and break down! Do you have a video on single moms taxes vs married with a single mom taxes? Both parties are working.

[@WGUTEE]

Yes, I need the video with married filing jointly

[@LYFEAccounting]

Hi Tiara, thank for watching and sharing. Since you requested that video, does that mean you are currently married?

[@MT-us8hl]

Thank you for the thorough explanation.

[@willdanzeisen3844]

You explain yourself very well, and I think the joke about all the math is just grea...😂😂t

[@markpierre5967]

Y’all doing a wonderful job👌🏿👍🏿

[@dynjarren5454]

Legally married until Sept 2022 and my employer didn't note the change so I have been taxed less and I fear that hurt me pretty bad. Never have I filed and owed a cent until now. Its disgusting how a single person could end up owing when all year long they paid

[@ashleighwilson9791]

Yes would love a video on when should file separate or not, my husband before married usually has to pay taxes, dunno if bc salary or what, don’t know much about, and I always get money and not have to pay government. File separately or jointly

[@gigitruong9466]

I feel like the representation of the statistics on the end of divorce weren’t represented properly, it was stated that 55% of marriages end because of financial difficulties but it’s actually 55% of divorces that actually happen

[@lolitacoker9566]

Amazing video, thank you so much for all of the information that finally became clear to me. I am wondering though what happens to my assets as a foreigner, who is married to an american citizen. Will the US govermnent be after my income or assets by default? Would appreciate a link if you have a video on this subject. Thank you!

[@chasingsavoryspaces6921]

Thank you for the content! Very helpful 👏🏽

[@LYFEAccounting]

Our Pleasure!

[@cieloazul9833]

Yes pls... Would appreciate your upcoming video

[@blackmann5382]

My newly wife receives disabilities checks. Do I claim separately or jointly? And how do I get more on my weekly checks?

[@aidandonahue6783]

Nice video !

[@RooseveltFSmith]

Very informative video! Please do the part 2.

[@LYFEAccounting]

Thank you! Will do!

[@mona-lyssasaint-urbain3180]

Can you give information regarding filing separate consequences with social security advantages and disadvantages. Can the husband or wife can receive your taxes if you did not fill taxes together.

[@ttfrhoncho6716]

Interesting. Starting to wonder about this, as my S/O is a high earner, roughly 3 times what I make, and may put us jointly into the 35% bracket, and move her out of the 32%, and me out of the 22%, or 24% depending on how my sidehustle works out this year. LOL, "Usually a good thing" !!! Will look for the second video.

[@wmmarquez]

My wife’s taxable income is 73k mine is 95k. Should we file jointly or separately? Whats your opinion thanks.

[@crakkfuentes74]

What if i owe the irs for an audit that was done on a year before I was married? Now that we file jointly will the penalize my spouse or take the owed amount from our upcoming refund?

[@mannythephysio]

Have a video on prenup benefits and disadvantages?

[@keilnealquan]

Let me know if I'm understanding this correctly if I earn more than my wife and we filled jointly, she's going to be taxed at the same percentage as I am?

[@arhini7918]

Great segment! I have a question: what if you remarry, claim the child when filing jointly, and are both are obligated to disclose if the husband and the (new) wife received child care tax credit, when only one has...Do you enter $1500 for the dad and $0 for the new wife? Please advise and Thanks!!

[@foodiebelin]

Thank you! What about those filing jointly with children? I want to make sure that all of the credits and bonuses are accounted for in the tax season thanks!

[@richgold5414]

That would be awesome if you made the video on when filing married separately!!!

[@LYFEAccounting]

Definitely!! Thanks for commenting

[@richgold5414]

@@LYFEAccounting do y’all do mentoring? Say a guy is interested in doing bookkeeping but with tax planning….

[@LYFEAccounting]

@@richgold5414 we are developing a group mentoring program now. stay locked in!

[@MakeItCount-wk7xj]

In CA ? One makes 175k files married & 4 dependents on W2, the wife makes 45k claims 0, should they file jointly or married but separately?

[@Mephistopheles_Baphomet_TruGod]

What if you the only income?

[@lindsayandrews6087]

What if my husband is 100% disabled veteran and he is tax exempt?

[@kathrynmaloney2333]

He is great ☺️

[@tonygareth221]

I make a little over $30k and my lady makes about $12k (small town easy life) and we are supposed to get married so what should I do? We may get married before end of the year. Will it benefit me financially? How should we file if we do get married before the end of year

[@AS-be4kp]

Probably shouldn't be married and having kids if you can't do math

[@patriceq]

Yes. Please. Also is it possible to revert to Married, Filing Separate once you’ve filed jointly?

[@LYFEAccounting]

Noted! & Yes, you can do that pretty much anytime.

[@patriceq]

@@LYFEAccounting thank you!

[@jennifermcafee9494]

my fiance does not do taxes is that going to hurt me when we get married?

[@ayanour7]

Yes.

[@jennifermcafee9494]

How if we are not married yet so his past effects me?

[@africanclothingsandmore.1674]

Hey! Sean, do you have a number I can call? Need some tax advice. Thanks

[@InTheMindOfficial]

Long story short, and entire video summarized: only file together if one partner earns a lot more than the other, otherwise, theres no point

[@bhamaumbas0]

I have a tip, i think the vid would be better if there is a backsound/backmusic like jazz, etc

[@LYFEAccounting]

Thanks! We will definitely consider it.

[@yuseong__2562]

I hope you read this ! I'm in a complex tax situation, I am a waitress and this tax return I owe a little over $3k because supposedly of my dependents & not enough taxes was taken out throughout 2021, anyways long story short. Can I file my taxes separately from my husband and use a possible return to pay my spouse's tax liability? Once I added my spouse's w2 information, I ended up owing instead of receiving.

[@kathrynmaloney2333]

If you find jointly he should be withholding more for federal and state so you both won't owe

[@aubreywebbie6505]

Invest in a better microphone

[@awaremaji339]

Yes please do the when you should file separately I’m looking at 75 and 94. SMH

[@LYFEAccounting]

What does the 75 and 94 represent? Is that income?

[@marissagmz]

This doesn’t make Sense… So if your single then you get 12,500 and if you married you get 25k but if each of you filed single you’d get that total of 25 k deduction anyway because each person gets 12,500 deduction anyway… Bias video so far

[@CT-jm2ye]

I was thinking the same thing.