Tuesday, January 22, 2013

Do YOU Qualify as Head of Household?

If you qualify, Head of Household is a much better income tax filing status than Single or Married Filing Separately. Why? Because you get a higher standard deduction ($2,750 higher for 2012) and may even qualify for credits not available to folks in the other two categories. Be careful, however – filing as Head of Household when you don’t meet the qualifications is fraud and you don’t want to go there!

I wrote more about this in Can You Claim Head of Household? over at Penny Thots, so go check it out!

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