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does having a wife mean a bigger tax refund?
wile doing my cra tax return on studiotax online software, i accidentally clicked that i was married, when i fixed this mistake, my tax refund dropped from 2700 to 200 dollars? like seriously? am i doing something wrong or does being married really increase the refund by that much?
6 Answers
- Anonymous2 years ago
go apply for a job in many temp agencies, one of them will quickly get you a minimum wage job no matter how uneducated or awful your personality is without doing a reference check.once u get a job, go live at someones basement or shared accommodation for lower rent, use a credit card if u cant pay your bills right now.
- Anonymous2 years ago
Dont worry no woman will ever marry you
- RICKLv 72 years ago
Yes as long as your combined income does not change
Believe me a non working wife would cost a lot more than the $2200 bigger refund you would get
- ShayLv 72 years ago
Being married changes your standard deduction from $12,000 to $24,000. Basically, you can earn more money without needing to pay taxes on it.
HOWEVER - you might not see more of a refund if you actually get married because most people change their W-4 form to show that they are married which means that the taxes out of each paycheck changes.
Another thing to consider is that the spouse usually also has income. That would change the total tax situation also.
Remember, a tax refund is just a refund of your money that you over paid based on how you filled out your W-4 form for with holding. If you fill out the W-4 form correctly, then you would break even at tax time with either a small refund or a small amount owed. (Only getting $200 is actually a good thing.)
Getting a large refund means that you had too much taxes taken out of your paycheck and you let the government use an interest free loan of your money.