Category Archives: Filing Status

While there are many joys that come with marriage, one of them is not tax time. Though you may be eligible for certain tax deductions and credits if you filed married, there are some cases where married couples may have to pay a penalty for filing jointly. This occurs if the couples total tax liability […]

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If your spouse passed away during the tax year, you are still eligible to file using the Married status. However the following two years after, you may file using the qualifying widow(er) status. In doing so, you are offered the same tax rates as if you filed jointly. You must meet additional rules in order […]

Categories: Filing Status

Head of household status can be extremely beneficial to taxpayers if they qualify. The two qualifiers – marital status and household expenses – must both be met in order to file your tax return using HOH. In order to determine your eligibility, read the following rules based off the qualifying factors: Marital Status: You’re required […]

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Couples who file their tax return together, aka married filing jointly status, commonly get the best rate of taxation, along with taxpayers who qualify to file using the qualifying widow(er) status, as they get similar rates as married taxpayers. Using the status married, filing separately have the highest rates of taxation, generally, though using the […]

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Choosing a Filing Status

July 20, 2015

When filing your taxes you have the choice of one of five filing status. Each filing status has a different requirement and certain deductions can only be claimed with some filing statuses, you need to inspect each one to decide which will work best for you. Single: If you can filing with this status if […]

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The IRS considers all same-sex couples who are legally married to be effectively married for all tax reasons, regardless of where you live in the country. Effective in 2013 all same-sex couples who are married are subject to the same tax implication as all other married couples. The IRS will consider a same-sex marriage if […]

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There are some benefits to filing Head of Household if you qualify for the filing status. Usually by filing Head of Household filing status you have the advantage of having a lower tax rate and higher standard deduction they filers who use either the single or married filing separately status’. You have five different filing […]

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Choosing the correct filing status can not only affect your tax liability but also any credit you may be entitled to at tax time. Some filing status may also determine if you even have to file taxes for the year. According to the IRS, anyone that married before December 31st of the tax year is […]

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Figuring out the Five Statuses

February 18, 2015

When the time comes to file your taxes, you’ll need to know which filing status you should use. There are differences between the five different options, and you’ll want to choose the one that gives you the greatest benefit. Make tax time easier and quicker by filing with the right status. The Big Five The […]

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The Filing Five

February 13, 2015

The status you use when filing your taxes is one of the most important decisions you will make at tax time. Your filing status determines what benefits you are eligible for, in addition to tax rates and the different amounts you can deduct. Your filing status is determined by your marital status as of December […]

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