I know there was a conversation here about taxes not too long ago (or maybe it was in Oct 15) and I need to vent.
DH was working on our taxes and we're getting back a really pathetic amount in my opinion. Why do I hear so much uproar about people having babies for the "tax benefits"?? WTF? What benefit? The $1,000 credit? Seriously? It's only March and we've already spent at least 3 times that much in just these first few months between daycare and doctors appointments alone. Are there some other kinds of benefits that people get?
I thought DH and I would clean up this year because he wasn't working in January and Feb. Then I had 1 unpaid month during maternity leave. Plus, neither of us makes that much $$. Our total income was about $60k. In all previous years when I've filed separately I've always gotten about $1,200 in my return and so has DH. Now filing together w/ the baby we're only getting about $2,300 back.
Is this the middle class gap? We make too much to get any benefits, but too little to have any real cash.
Any tax experts out there that can give me some advice? Do we need to pay $100 of our middle class gaptastic income to have our taxes professionally done?
Re: Tax Vent
But yes, it's probably being stuck in the middle. My coworker mentioned that they (her and DH) don't get much back either and I guarantee they are over the $200k mark so I think you have to be in a lower bracket to really get any benefit.
My DH and I dont make a ton either and we found out we actually get much more back filing separatelty even though we are married, might be worth looking into
@CaboBride2015 I can't believe those who make over 200k get anything back at all!
We deduct our student loan interest, mortgage, and property tax. I don't think there's any child care deductions available because LO wasn't in day care at all last year. Is there anything else that counts as "child care expenses"?
When we filed as married filing separately last year we couldn't deduct our student loan interest, but maybe that would be the better way to go anyway.
I don't think anything else counts as child care... we only had 3 weeks with the new baby at the very end of the year so she only helped a little. I've already told her she needs to get a job.
If you're claiming a dependent, they'll take out less from your check each year, so you can claim zero dependents and get more back at the end of the year. I figure it's all sixes and you're going to pay what you're going to pay. People who are getting a ton of money back every tax year are just overpaying throughout the rest of the year.
eta- id love to get $2300 back too! Id love to get anything back! Our tax system is a JOKE.