Do you think filing your tax status is stuck in 1955? Well, it could be I mean I am not a physics chick, or Quantum Mechanic so maybe. But here is where I can help you. There aren't just 3 tax filing statuses anymore.
Let's Review them:
Single
Married
Married Filing Separate
Head of Household
Deceased
Ok, so Deceased doesnt count if you are currently reading this blog. If it does, call me, we can make a lot of things happen.
Seriously, Single and Married, self explanatory, or are they? What about Domestic Partnerships? What about Disabled Dependents? There some very real considerations in your Filing Status you should discuss with your trusty Tax Professional, especially if you have children, disabled dependents or disabled children dependents. Filing Status could mean the difference between weekend vacay, or woo-hoo Hawaii here I come.
Head of Household is the least utilized Tax Filing status there is. Many don't even know what it means. Let me demystify it for you. Do you have a child with you more than 50% of the time? Have disabled person, in your home or provide more than 50% of their needs? Then you bestie are in fact, Head of Household, if those conditions are met. There are rules, tax breaks and guidelines of course, it's the IRS. As mentioned above, discuss with your tax professional. They will move you in the right direction.
So hopefully, I was able to shine some light on your filing status dilemma. Or gave you an idea on how to file. Any questions, ask your tax guru. Like me. We got you.
Tata Tax Besties
Miss Nikole
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