tax returns filing jointly vs separately

[Spartan]

1 minute ago, idibezwada said:

whats AGI uncle?

Adjusted Gross Income... (after applying deductions std or itemized).

[meranaam]

30 minutes ago, Spartan said:

Adjusted Gross Income... (after applying deductions std or itemized).

ee scenario lo ee filling best baa?

AGI --> 225K (135k + 90K)

 

[Spartan]

1 minute ago, meranaam said:

ee scenario lo ee filling best baa?

AGI --> 225K (135k + 90K)

 

225 lo if u go std deduciton --> you joint AGI will be 201

individual ga cheste..

135 - 12500 okaru,  -- 24% tax bracket and

90-12500 okaru  -- 22% tax bracket.

 

individual ga cheskodam better.  because combine chesina ur bracket wont come down since limit is 165K for 22%

[Sarvapindi]

Return edi ekkuvoste adi sesko...va..endi panchayithi

[meranaam]

22 minutes ago, Spartan said:

225 lo if u go std deduciton --> you joint AGI will be 201

individual ga cheste..

135 - 12500 okaru,  -- 24% tax bracket and

90-12500 okaru  -- 22% tax bracket.

 

individual ga cheskodam better.  because combine chesina ur bracket wont come down since limit is 165K for 22%

 

nenu inka asalu estimate chudaledu baa andhukee askng..usual ga combined ee chestha eppudu..ee yr new rules kada ani askng

[AlaElaAlaEla]

25 minutes ago, Spartan said:

225 lo if u go std deduciton --> you joint AGI will be 201

individual ga cheste..

135 - 12500 okaru,  -- 24% tax bracket and

90-12500 okaru  -- 22% tax bracket.

 

individual ga cheskodam better.  because combine chesina ur bracket wont come down since limit is 165K for 22%

AGI ki you should not deduct standard deduction man

The deductions you take to calculate AGI are referred to as “adjustments to income.” These are specific expenses that the IRS allows you to use like expenses you incur as an educator to purchase supplies and materials for the classroom, student loan interest and tuition payments, taxable deductible alimony payments you’re required to make, contributions to your IRA accounts and a number of others. 

[Spartan]

Just now, AlaElaAlaEla said:

AGI ki you should not deduct standard deduction man

The deductions you take to calculate AGI are referred to as “adjustments to income.” These are specific expenses that the IRS allows you to use like expenses you incur as an educator to purchase supplies and materials for the classroom, student loan interest and tuition payments, taxable deductible alimony payments you’re required to make, contributions to your IRA accounts and a number of others. 

the list mentioned in ur post are "ITEMIZED DEDUCTIONs" 

2018 nunchi a STD deduciton penchesadu to 24K.. so no matter how many itemized ded u put..u cannot breach 24K.

so u either do std or itemised ded to adjust ur gross income...

 

[Spartan]

5 minutes ago, meranaam said:

 

nenu inka asalu estimate chudaledu baa andhukee askng..usual ga combined ee chestha eppudu..ee yr new rules kada ani askng

simple funda man..

combined or seperate...just check whcih one will lower ur tax bracket..

[vikuba]

7 hours ago, Spartan said:

@jobseeker1 

iddaru AGI kalipi 165000 kanna takkuva cheyagaligite...go for joint filing... 22% tax bracket lo vastaru..

and u can get 24K deduction..

 

kaadu AGI 165K kanna ekkuva undi ante.. and individual AGI 82K varaku unte..go for individual filing..

depends on how much u guys are making and howmuch AGI will be.

22% tax money lo 24k reduction aa?

say 30k (22% of AGI) is tax money we owe... with reduction 24k...6k are the taxes we owe?

[Spartan]

59 minutes ago, vikuba said:

22% tax money lo 24k reduction aa?

say 30k (22% of AGI) is tax money we owe... with reduction 24k...6k are the taxes we owe?

no man..

posted this in other thread...do ur math with below example.

 

100k gross ante..

lets say ur std deduciton is 24K --.  then ur AGI = 100-24 = 76K.

assuming u dont have any other income or deductions.

76K AGI ki..u will be in 12% tax bracket....

nuvvu kattalsina tax 9120 (approx figure)  Federal Tax.

but nuvvu 17K kattav, kabatti neeku returns will be 17K -9120 = 7880.

(nuvvu cheppina 17K does it include ssn and medicare..or purely Federal whitholding.)

[TensionNahiLeneka]

On 2/1/2019 at 12:32 PM, Spartan said:

issues em undav vayya..

pakka antava bro? 

[TensionNahiLeneka]

On 2/1/2019 at 8:36 PM, Spartan said:

 

maa friend gaani situation: 

vaadiki around 90k vundi w-2 la.

wife ki emo 40k 1099 vundi. 

 

seperate ga apply cheste , iddariki kalipi oka 1-2 k kattalsi vastundi.

ade joint ga apply cheste , total ga 9k kattalsi vastondi. 

 

which one you support?

[TensionNahiLeneka]

5 hours ago, TensionNahiLeneka said:

maa friend gaani situation: 

vaadiki around 90k vundi w-2 la.

wife ki emo 40k 1099 vundi. 

 

seperate ga apply cheste , iddariki kalipi oka 1-2 k kattalsi vastundi.

ade joint ga apply cheste , total ga 9k kattalsi vastondi. 

 

which one you support?

+ @Spartan kaaka

[Spartan]

31 minutes ago, TensionNahiLeneka said:

+ @Spartan kaaka

do it seperate.

[TensionNahiLeneka]

13 minutes ago, Spartan said:

do it seperate.

jai @Spartan jai jai @Spartan