Qualifying Child – DougFreemanCPA.com

Some taxpayers qualify for more favorable “head of household” tax filing status

2022 Tax Return, Head of Household, Tax Return, Taxes 2023 / Douglas Freeman

When preparing your tax return, we’ll check one of the following statuses: Single, married filing jointly, married filing separately, head of household or qualifying widow(er). Filing a return as a head of household is more favorable than filing as a single taxpayer. For example, the 2023 standard deduction for a single taxpayer is $13,850 while […]

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Many parents will receive advance tax credit payments beginning July 15

American Rescue Plan Act, Child Tax Credit, Dependent Tax Credit / Douglas Freeman

Eligible parents will soon begin receiving payments from the federal government. The IRS announced that the 2021 advance child tax credit (CTC) payments, which were created in the American Rescue Plan Act (ARPA), will begin being made on July 15, 2021. How have child tax credits changed? The ARPA temporarily expanded and made CTCs refundable

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Who qualifies for “head of household” tax filing status?

Head of Household, Income Tax, Individual Income Tax, Tax Savings / Douglas Freeman

When you file your tax return, you must check one of the following filing statuses: Single, married filing jointly, married filing separately, head of household or qualifying widow(er). Who qualifies to file a return as a head of household, which is more favorable than single? To qualify, you must maintain a household, which for more

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Your taxpayer filing status: You may be eligible to use more than one

2020 Tax Return, Tax Planning / Douglas Freeman

When it comes to taxes, December 31 is more than just New Year’s Eve. That date will affect the filing status box that will be checked on your 2020 tax return. When filing a return, you do so with one of five tax filing statuses. In part, they depend on whether you’re married or unmarried

Your taxpayer filing status: You may be eligible to use more than one Read More »

What is your taxpayer filing status?

2019 Tax Return, Tax, Tax Deduction, Tax Planning / Douglas Freeman

For tax purposes, December 31 means more than New Year’s Eve celebrations. It affects the filing status box that will be checked on your tax return for the year. When you file your return, you do so with one of five filing statuses, which depend in part on whether you’re married or unmarried on December

What is your taxpayer filing status? Read More »