With a Form 8332, the non-custodial parent can claim the dependency exemption for the child and also claim the child tax credit.
This question comes up a lot, and the answer — as always — is “maybe.”
Head of household filing status was created in 1951.
The “qualifying widow(er)” filing status is for a person whose spouse has died and the surviving spouse is still raising kids.
The term “head of household” refers to a filing status on a tax return available to unmarried people caring for children or parents. In simple terms, head of household creates a standard deduction and a tax bracket that is halfway between the single and married filing jointly filing statuses. Here are the requirements for filing […]
Q: Can I deduct mileage to a PO box? A: It depends. If you are a home-based business and a portion of your home is used regularly and EXCLUSIVELY for business, then you can deduct any business mileage driven from your home, including to your PO box. If your home is not used regularly and […]
How to claim a same-sex spouse or partner as a dependent.
DISCLAIMER: The answers to questions in this segment are intended to be general in nature and do NOT constitute tax advice. Please contact a tax advisor to discuss your unique situation. All of these questions have been submitted from readers recently: Q: Can I file as head of household on my taxes in North Carolina if […]
Can two people who live together each claim head of household filing status? It is theoretically possible but not likely.
Single people who have kids may be able to save on taxes by filing as head of household. The head of household filing status provides for a tax bracket that is better than the single filing status. To qualify for head of household filing status, you must meet the following criteria: Be unmarried or “considered […]