Personal Taxes

Punitive damages are taxable even if they relate to a physical injury or sickness. An exception to this exists for damages awarded under a state wrongful death statute.

If you meet certain tests- the distance test ( your new job location is 50 miles or more from your old home) and time test ( you work full time as an employee for at least 39 weeks at the new location) :

1.Traveling related costs incurred by you or your family, moving from the old home to the new location are deductible. This includes lodging, your auto expenses if you drive, airfare, parking and tolls. Family members may move on separate dates and they are all deductible
2. Costs of moving your household items like furniture, shipping your personal goods are deductible.

Your filing status and gross income determine if you have to file a 2016 tax return. In the year 2016 if your filing status is single and under age 65 then the gross income must be more than $10,350 If 65 or older than the gross income must be more than $11,900 .
If your filing status is Married and living with your spouse as of the last day of the year and both people are under age 65 then the gross income must be more than $20,700 If one over 65 and one 65 or older then the gross income amount must be more than $21,950 . If both people are 65 or older then the gross income must be more than $23,200
If your filing status is Head of Household and under age 65 then the gross income must be more than $13,350 If 65 or older than the gross income must be more than $14,900 . If your filing status is Widow(er)and under age 65 then the gross income must be more than $16,650.if 65 or older than the gross income must be more than $17,900.
If your filing status is Married filing a separate return the the gross income must be more than $4,050 regardless of the age.

SINGLE and under age 65 then the Earned income must be more than $5,800 or Unearned Income greater than $950 or Gross Income greater than the larger of $950 or Earned income up to $5,500 plus $300.
SINGLE and age 65 or older or blind then the Earned income must be more than $7,250 or Unearned Income greater than $2,400 or Gross Income greater than the larger of $2,400 or Earned income up to $5,500 plus $1,750.
SINGLE and age 65 or older AND blind then the Earned income must be more than $8,700 or Unearned Income greater than $3,850 or Gross Income greater than the larger of $3,850 or Earned income up to $5,500 plus $3,200.
MARRIED and both people are under age 65 then the Earned income must be more than $5,800 or Unearned Income greater than $950 or Gross Income greater than the larger of $950 or Earned income up to $5,500 plus $300.
MARRIED and both people are over age 65 then the Earned income must be more than $6,950 or Unearned Income greater than $2,100 or Gross Income greater than the larger of $2,100 or Earned income up to $5,500 plus $1450.

If tax bracket = 10% or 15% the Short Term CG taxed at ordinary rates Long Term CG and Qualifying Dividends tax rate = 0% If tax bracket = greater than 15% the Short Term CG taxed at ordinary rates Long Term CG and Qualifying Dividends tax rate = 15%

You should file a "joint" tax return and include the deceased income earned and applicable deductions prior to your spouse's death. A joint return is filed by you and the executor or administrator. Do not include income earned after the date of death. This income is considered "income in respect of a decedent" and is taxed to the Estate or beneficiary receiving the income in the year of the receipt. The income must be reported by the Estate (if more than $600) on Form 1041. Speak to your local CPA about the personal and Estate tax returns that you need to file.

For 2016:
The Tax between 0 and $13,250 = 10%,
between $13,251 and $50,400 the Tax = 1,325 plus 15% over 13,250
between $50,400 and $130,150 the Tax = 6,897.50 plus 25% over 50,400,
between $130,150 and $210,800 the Tax = 26,835 plus 28% over 130,150,,
between $210,800 and $413,850 the Tax = 49,417 plus 33% over 210,800
>between $413,350 and $441,000 the Tax = 116,258.50 plus 35% over 413,350
over $441 the Tax = 125,936 plus 39.6% over 441,000

If you are unmarried at the end of the year, you may be able to file as a head of household or widower if you pay for more than 50% of the household costs for the child or relative that lives with you. You may file as a widow(er) if you became a widow(er) in the 2 prior tax years, and in the current tax year you paid more than 50% of the household costs for you and the dependent child. The tax rates for widow(er) and head of household are more favorable than filing as a single.

No. You are not eligible to choose head of household filing status if the qualifying person is your dependent because a multiple support agreement Form 2120 was filed.