Money issues

[renaissancewoman101]

I have a question for all you people who are familiar with finances and stuff like that. My finances are getting tight again and I dont want to bother my parents for money right now because that will just bring up major issues with them. I recently took out a loan off my IRA and repaid half of it within the 60 days, so I owe taxes on the half I didnt pay back. Now, I am thinking of taking out another chunk out of my IRA, but this time I have to pay taxes on it right away. All in all, it can result in me paying about $1000 worth of taxes at the end of the year.

 

I can deal with that, I think. My biggest question is that I am married right now to the guy that I am NOT talking to and trying to let out of my life. If things go well, I will want a divorce from him soon. Problem is, if I do this, will he find out, or can we file our taxes separately???

 

If it is a really big problem, I will just suck it in, see how much I still have left in savings and ask my parents for help. I dont want to because the last time I asked them to help me, they DID help me but they gave me hell about it.

[Batya33]

I would ask a lawyer or look on the internet to find out what the divorce laws are in the state in which you were married, which should cover financial issues too.

[Beyondthesea]

You know RW, I didn't realize you were married to him too. I would get a lawyer and get this dealt with. In reality, if he got nasty, he could take 1/2 of everything of yours legally.

 

Time to get some money coming in!

[helpme2]

how long have you been separated? if it's more than 6 months you can file as single (or head of household if you have a dependent) on your federal taxes, and most states will let you file the same way as you legally can on your federal (so you could file single on both and he would never have to know)

 

If it's less than 6 months then you need to get the divorce final before you file your taxes (even if it's the day before april 15th) or file separately (which I don't recomend unless you absolutely have to because you miss out on a lot of tax credits and will end up owing more in taxes)

[coollady1957]

REN, I agree that you should consult a lawyer and maybe a financial analyst or an accountant as well ,to get the proper advice for your situation. I think there are places you can get this advice free of charge for an initial consultation maybe. Check in to it girl.

[renaissancewoman101]

I decided not to take the money out because of the tax issues. Dont need more problems right now than necessary.