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Tax Lawyer Robert Wood-Consider Filing Status Carefully (Forbes)


forbes_logo_main You might think your filing status is about the most pedestrian detail on your tax return.  Who thinks about which box to check at the top of your return, saying single, married filing joint, or married filing separately?  Most of us don’t.

If we’re married, we file, jointly; if not, we file single.  And head of household is a term most don’t understand (see point 6 below to see if you qualify).  But for many who haven’t thought about it, now’s a good time—before the panic of the filing season descends. Your filing status is used to determine standard deductions, eligibility for certain credits and deductions, and even the amount of tax.

Five Choices.  There are five choices: Single, Married Filing Jointly, Married Filing Separately, Head of Household and Qualifying Widow(er) with Dependent Child.

Read more in Forbes

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