Category Archives: Filing Status

Filing Statuses

There is a variety of status in which you can file your taxes and the difference between them can help you determine which status you should file. At tax time, you can make the process as easy and smooth as possible with all the help you can get. What are the tax ratings? You can […]

The Right Filing Status

The tax benefits and tax rates and deduction amounts available to you depend on the filing status you choose. Your status will be determined by your marital status at the end of the year and whether you have dependents or not. Married-Separate or Joint If you are married as of 31 December, you are considered […]

Qualifying Widow or Widower Status

If you’ve lost your spouse, you may qualify for a special tax filing status. The qualifying widow(er) status can be used by taxpayers when filing a tax return after their spouse has died. There are some additional requirements that must be met as follows: When you file a return for the year your spouse dies, […]

If you opt to file your tax return using the head of household filing status, the tax rate income brackets expand. That means if you earn up to $50,800, you’ll still be able to remain in the 15% tax bracket, however you must have a dependent to claim HOH. Otherwise, you’d be considered a single […]

Married? File Jointly or Separately

Taxpayers who are married have two options for filing their tax returns: either jointly or separately. The IRS offers incentives in the form of different tax breaks to couples who file together. While it’s generally most advantageous for married couples to file a joint return, there are some situations where filing a separate return may […]

Separation and Divorce at Tax Time

Couples who are separated have decisions to make at tax time, which can affect the amount you get back in a refund, or how much you have to pay. You are able to make some of these decisions on your own, however there are a few that require both parties to be on the same […]

Taxpayers who pay their student loans using an IBR, ICR, or PAYE repayment plan should be extra careful when filing their tax returns. The tax filing status you chose can affect your repayment plan. Married taxpayers should determine whether filing a return with their spouse, using “married, filing jointly,” or keeping their income separate by […]

Married taxpayers have the choice of filing a single tax return with their spouse using the married filing jointly status, or keep their income separate and file married, filing separately. Most married couples opt to file jointly, though it’s important to evaluate the benefits of both statuses and make sure you use the status that […]

In some cases, yes. While most couples who are married file a return together, combining their income into a single amount to be taxed. Filing a joint return is generally simpler for couples, and most of the time will produce a lower tax bill than if the couples filed their returns separately. However, there are […]

Many taxpayers are unsure of the full scope of the Head of Household filing status when it comes time to file a tax return. Knowing about all the details of this status can benefit you greatly, because those who qualify to file Head of Household receive savings and tax benefits. Many single parents love this […]