On Dec 12, 12:32*pm, Harlan Lunsford <luns...[at]bellsouth.net> wrote:
- quote -

This is very simple, really. You keep paying your installments, in
the amount of 1/4 of your 2008 taxes (or 1/4 of 110% of last year's
tax if your combined AGI was over $150K in 2008). He keeps having
withholding adjusted to withhold 100% or 110% of his prior year's
tax.

Sometime in December, after you're wed, estimate your true taxes as
MFJ, including your SE tax and you have two easy choices.
..
1. If you will owe less than your withholding and paid
ininstallments, skip part or all of your Jan 15 installment.

If you owe more than you have withheld and paid in installments
(including your January installment) you will not have a penalty
because you will have totally met your combined "last year's tax" safe
harbor.

You can pay the remainder (or maybe get a refund) in April 2010. For
estimating taxes in 2010 you have lots of options.

1. Keep paying as you did in 2009
2. Adjust withhlding to cover your total tax liability
3. Use the Annualized Iincome Method to determine how much
installment you actually need each quarter after factoring in total
income and his withholding. You can Google "2210 tax calculator"
to find one to download from the net.

ed

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~Cat Lover~ wrote:
- quote -

- My Fair Lady

ChEAr$,
Harlan Lunsford, EA n LA

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

It's me.... Well I hope it's going to take place Nov. because the
invites will be that way, the hall is rented, photographer,
officiant- so it better be that way LOL.
If we marry & stay married in the same year, it doesn't matter WHEN the
marriage took place, because they consider the whole year as a married
status. My concern was I did not want to hurt HIM (He always gets a
refund.. I usually do NOT!I always miscalculate for some reason! Well,
my salary fluctuates so much anyways.)
Like someone said just pay anyways my estimated and worry about it
after. I know I know, MOST people pay bi-monthly through their jobs, I
pay every 3 month....so I shouldn't be complaining- I just hate gving up
so much at once don't cha know teehee!

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Paul Thomas, CPA wrote:
- quote -

taxes, whether via withholding and/or estimated taxes as if they were
going to file separately. For one such married client couple, she is a
nurse and typically has less than a thousand overwithheld each year,
while he is self employed and faithfully makes his estimated payments
each quarter which are calculated by me every quarter. Then at year's
end when the return is filed I calculate her refund separately. She's
happy that way, and he pays only his fair share.

Of course not all people have such a caring accountant on their side. (grin

ChEAr$,
Harlan Lunsford, EA n LA

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

"Harlan Lunsford" <lunstax[at]bellsouth.net> wrote
- quote -



You mean: Don't count your tax savings before the wedding.

Years ago I had a client whose daughter got married in like May, and was
divorced by December that same year. She changed her withholding from
"single" to "married" for the bulk of the year (maybe changing it
pre-nuptials), but at the end of the year she had to file as single. She
was woefully under withheld with her taxes.




--
Paul A. Thomas, CPA
Watkinsville, Georgia

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

~Cat Lover~ wrote:
- quote -

That's a far piece off I think, and things can change. (Don't get this
wrong now, I'm not predicting anything! lol)

My advice to a client in your situation is to continue as if you'll be
single the whole year. Make those first three quarterly tax payments in
April, June and September.

After you get married; then, and only then, should you consult with
your accountant again and reassess the situation.

IOW, don't count your (tax savings) chickens before they hatch.

ChEAr$,
Harlan Lunford, EA n LA

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

"~Cat Lover~" <imacat17[at]webtv.net> wrote in message
news:20690-494178EF-551[at]storefull-3113.bay.webtv.net...
- quote -

course, he can increase his withholding rather than pay estimated taxes.

Even if it doesn't, it is not a big deal. There is no actual penalty; you
just have to pay interest on the amount. If you had to borrow the money to
pay the estimated taxes (or borrow more money to buy a car because you used
the car money to pay estimated taxes...) you would be better off NOT paying
estimated taxes, and paying the interest instead.

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

"~Cat Lover~" <imacat17[at]webtv.net> wrote in message
news:20690-494178EF-551[at]storefull-3113.bay.webtv.net...
- quote -

It depends on how unequal your separate incomes are. By filing
jointly over separately (or previously as single), more of the higher
earner's income may be taxed at a lower rate as it is absorbed by the
unused lower rate(s) of the spouse with the lower income, thus
resulting in a lower combined tax than the sum of the separate taxes.

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

Hi, My name is Jean. Not sure where to ask this, but I am hoping this is
start. I am to get married in Nov. 2009. I am self-employed my fiance
is not. My accountant says to file jointly as we will get credits,
breaks etc.... she also said with our combined income, I may not
have to pay estmated taxes then ....I called IRS, they confirmed same
thing (he may pay in enough I won't have to)
My confusion is this : If I NORMALLY pay in say $1000 every quarter,
how will "because we have combined incomes now"... how will he have
paid in enough I don't get penalized??? I am just not getting this !!
Draw a picture if you have to!

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >