The first step in filing your taxes is to determine your tax filing status. While this initial step may seem simple, several tax filing options exist. The selected filing status will have an impact on your tax return; therefore, it is helpful to have a basic understanding about the filing statuses available to U.S. taxpayers. Related Posts - Guide to Taxable Income - Paying taxes as an independent contractor or business owner - Save on taxes by taking advantage of a declining market - Guide on how to file a tax return for a dependent child Tax Filing Status Five unique tax filing statuses exist for U.S. taxpayers, which include: single, married filing jointly (MFJ), married filing separately (MFS), qualifying widower, and head of household (HOH). U.S. tax law categorizes taxpayers into the five categories based on the taxpayers' current situation. I will detail each filing status below to help you determine your tax filing status. Single You should file as singl
Tax topics made simple. Textbook Tax aims to educate readers about a broad range of tax-specific topics and issues. The goal being to explain tax in an easy to learn format for both educational and real-life application.