W-4 for 2020 help please!

[Happy prose]

i'll start this off by saying I know nothing about income taxes. (So no flaming!)
Currently, both my husband and I have our W4s as 0 Married, and we joint file. I have $50 extra for federal, and $25 extra for state taken out of my biweekly pay. Long story, but for 2020, DH wants to file separate. I asked for the for the form in work, to change my W4 to single for 2020. I make $92 k, him a little over $50 k; no mortgage or dependants, etc, just some interest income, so we don't itemize.. A chart came with this form- on the top it says lower earner, and down the side highest earner. In the box where the grid meets, it says 8,090. What does that mean? I also for 2020, will put the $26k in my 457; he contributes to a 401 k, but not a lot. So first question is, should I still take out the $50 extra for federal? I'm not sure how much more taxes they will take out on single/separate. Will this kill my paycheck? I for sure don't want to owe a bunch. I think last year for federal we paid around $200. Thanks for any help, and please let me know if you need further info. 

[Deleted]

It's for calculating the extra tax if you have multiple jobs.  But if you're filing separately and only have one job each you don't need to use that table.   Just fill out the W4 like you're single.  Your husband's income doesn't matter.

Why does he want to do this anyhow? 

[Happy prose]

Jan 22, 2020 16:53:26 GMT -5 minnesotapaintlady said:

It's for calculating the extra tax if you have multiple jobs.  But if you're filing separately and only have one job each you don't need to use that table.   Just fill out the W4 like you're single.  Your husband's income doesn't matter.

Why does he want to do this anyhow? 

Thank you! The short answer is he's crazy! Do you have any idea how much more tax will come out of my pay, and if I should continue the extra $50?

[Deleted]

I like to just figure total tax due and work from there.

   92K Gross

- 26K Retirement

-12K Standard deduction

= 54K taxable.

9875 @ 10% = $988

30250 @12% = $3630

13875 @ 22% = $3053

Total tax = $7671

Just make sure you witthold that much. 

[Deleted]

I'd ask again why he wants to file married and separate.  That almost always means that your taxes will be higher than if you file married and joint.  

Who currently does your taxes?  If you are doing it with the help of a tax program like TurboTax, TaxAct, etc., do it again as if you are filing married and single this year and look at the difference.  I think you can do it online for free, too . . . just don't accidentally file it!

Are you two preparing for a separation or something?  Is he?  I don't mean to pry, honestly.  But I do remember how quickly my former live-in boyfriend and I broke up.  It was clear afterwards that he had one foot out the door and was just waiting for something to happen that he could use as a reason to leave.  But that's probably not the case here. 

[NoNamePerson]

Jan 26, 2020 10:45:23 GMT -5 @bamafan1954 said:

I'd ask again why he wants to file married and separate.  That almost always means that your taxes will be higher than if you file married and joint.  

Who currently does your taxes?  If you are doing it with the help of a tax program like TurboTax, TaxAct, etc., do it again as if you are filing married and single this year and look at the difference.  I think you can do it online for free, too . . . just don't accidentally file it!

Are you two preparing for a separation or something?  Is he?  I don't mean to pry, honestly.  But I do remember how quickly my former live-in boyfriend and I broke up.  It was clear afterwards that he had one foot out the door and was just waiting for something to happen that he could use as a reason to leave.  But that's probably not the case here. 

You took the words right out of my mouth! I was also wondering if he has some “other income” he doesn’t want to show on joint return! I hate being so jaded!

[Happy prose]

You guys are making me laugh! Nothing like this is going on. Long story, but it has to do with the differences in our income. Our money always has been kept separate. 

[NoNamePerson]

Jan 26, 2020 18:07:57 GMT -5 Happy prose said:

You guys are making me laugh! Nothing like this is going on. Long story, but it has to do with the differences in our income. Our money always has been kept separate. 

Whew, that makes me feel bad but glad all in the same breath. But still wonder why now? Has there been a huge change in one of your income recently? But just figure it both ways and see if any advantage either way!

[Deleted]

Jan 26, 2020 18:07:57 GMT -5 Happy prose said:

You guys are making me laugh! Nothing like this is going on. Long story, but it has to do with the differences in our income. Our money always has been kept separate. 

Then I am guessing he wants control over "his" part of the refund.  How are you guys currently splitting it, or are you?  DH and I kept our money separate, but not the refund even though I was the only one paying taxes.  Lol.  The rationale was that it belonged to both of us so we put it into the house account to use for projects.  It was never that much . . . $300-$400.  And the house account could always use a boost.

Use a tax program to figure out whether it is worth it.  He needs to remember, though, that it is filing married but separately and not single.  It is not as simple as he may think.

[busymom]

DH & I have never split up our income money, @bamafan1954, but, could you agree to have some "fun" money, that neither of you has to account to the other one for?  Or, is it one of those cases where he wants to do whatever he wants with his "share"?  If it won't screw up your budget, and lets say you make 60% and he makes 40%, go ahead & give him 40% of the refund.  Of course, you tell him once he blows through it, he can't ask for any more...  



There is one category of money that we have kept separate.  Inheritance money.  But then, in that case, what's his IS his, and what's mine is mine.  

[Deleted]

I am guessing you meant to tag Happy prose, or at least you meant to direct your question to her.  It is their business, not mine, how they split the refund.

I was simply describing how my husband and I did it even though we, too, had separate money.  It is no longer an "issue" (it never was) since he died in October.