Federal Tax, Tax

Prepare for Tax Season by Choosing Your Filing Status

Before you know it, it will be time to contact us to set an appointment for your 2023 tax return preparation. One of the choices we’ll need to make is the filing status you’ll use. Some taxpayers are eligible for more than one. The five statuses are: single, head of household, married filing jointly, married filing separately, or qualifying widow(er). Your status affects your standard deduction, your ability to claim certain credits and how much tax you’ll pay. Which status makes the most sense for your situation? Contact the Cg Team to help you decide when preparing your return. There’s also an interactive IRS tool: https://bit.ly/3spCC6n. © 2023