Federal Tax, Tax

Know Your Correct Filing Status This Tax Season

Before you know it, tax filing season will be here. One of the basic things to know is your correct filing status. Most of the five statuses are easy to determine.

What are the different tax statuses you can file?

The different tax statuses you can file are single; married filing jointly; married filing separately; head of household; and qualifying widow(er). The head of household status is often misunderstood. It can lead to owing less tax than single status. But to qualify, you must maintain a household for more than half the year as the principal home for a qualifying child or other relative that you can claim as a dependent. Under a special rule, this may include a parent that doesn’t live with you. Learn more here: https://bit.ly/3sOzUE3  or    Contact Cg with any questions. © 2022