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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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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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If your kids are off to day camp, you may be eligible for a tax break

Deductions, FSA, Summer Day Camp, Tax Credits / Douglas Freeman

Now that most schools are out for the summer, you might be sending your children to day camp. It’s often a significant expense. The good news: You might be eligible for a tax break for the cost. The value of a credit. Day camp is a qualified expense under the child and dependent care credit,

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