Taxes
How should we go about splitting the tax return ? My 1 year old son, girlfriend and her son has been living together and I have paid majority of the household expenses. I pay $1200 in rent and she pays about $300 or less for utilities . Plus I providing a lot of the expenses for our children .I made over 3x as much as her (she made less than 20k) and she's filing both kids (I had the option but I denied because of school loans ) . So should I ask for half since I pay majority or let her keep most of it since she makes less?? I want to be fair not greedy .
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the way I see it...if it wasn
the way I see it...if it wasn't for her filing you'd be getting ZERO because your loans.
Just on a vacation and call it a day.
If it weren't for the OP, she
If it weren't for the OP, she and her son would have a much different lifestyle.
If the man is pretty much supporting her and her kid all year long, then splitting the refund shouldn't be an issue.
Maybe. My dh makes 3 times
Maybe. My dh makes 3 times what I do....and if they are already living together what will they each spend the money on? If it’s bills then no need to split it just pay off stuff.....
if they are just gonna hit the mall with their halves then I say just take the vacation.lol
I'm confused. Why don't you
I'm confused. Why don't you each just claim one of the children and call it even?
Who is the mother of the one
Who is the mother of the one year old? Girlfriend? If the answer is yes, she's claiming her children, only one of which you can claim and you don't want to.
Girlfriend and you need to sit down and discuss finances. Be realistic about who pays what, spending, taxes, loans, and savings. Don't forget to add in childcare. You need a budget and to learn to live within it.
Your student loan is yours to pay. It's nearly impossible to discharge in bankrupcy, and will follow you to when you collect social security and beyond. Not paying it can impact your ability to get loans for houses and cars, and if lack of payment shows up in a background check, not paying can affect what jobs you are offered. You need to adjust your budget to include your loan repayment.
There are programs for loan repayment adjustment. Investigate those and apply for what you are eligible for. But, realize you need to figure out a way to pay on your loans every month.
Plus, if he's making 3x what
Plus, if he's making 3x what she is - be responsible and pay the loan. I don't understand why people take student loans and then think they don't have to pay them back. Don't have a child and go on vacation if you can't afford to pay your loans. Get a second job and pay your loans. It's financial irresponsibility.
No kidding. Every tax return
No kidding. Every tax return I’ve ever received has gone to loans when I’ve had them. The thought of blowing it on useless crap or taking a vacation I actually can’t afford has never crossed my mind. If they have debts, that’s where the money should go.
Seriously. Bonus last year?
Seriously. Bonus last year? Paid off one car. Surprise 10K gift from mom? Paid off the other car.
If she is making 20k and
If she is making 20k and claims 2 kids, she will get something called EITC. It is a huge tax credit for low income and even if you didnt have your student loan problem you guys would be better off claiming the kids on her return because of that credit. I used to do simple tax returns and she could get almost $6000 if they qualify. PM me if you have any questions but it may take a day or 2 before I see it. I don't get notifications for this site...or you can Google it.
I'm all for helping those
I'm all for helping those that need help, but this trend using government handouts to fund vacations is ridiculous.
The OP did not say anything
The OP did not say anything about vacations. Vacation was introduced by a subsequent poster. I agree that, in this case, the money needs to be used for other things (bills, loans), the OP did not suggest using it for a vacation. We actually have no idea of what the OP wants to do with any money he receives from a tax return.He might want to use it wisely. He might not.
Well, he certainly doesn't
Well, he certainly doesn't want it to pay his loans, since he's trying to make sure his refund is as small as possible in case they take it.
It's not a gov't handout, it
It's not a gov't handout, it's your own money you are getting back.
Earned Income Credit is not
Earned Income Credit is not a refund of your money. That money is GIVEN to low income families as a tax credit.
If you receive eitc you are
If you receive eitc you are getting your money back + a tax credit. Ive seen people get almost $8000 back from a 20k w2. They didnt pay in $8000