Personal Taxes
The most frequently asked tax questions related to Personal Taxes
Can I claim Head of Household filing status because my relatives signed a multiple support agreement?
Asked Thursday, January 05, 2012 by an anonymous userCPA Answer:
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.
If I file married filing separately, can I use the standard or itemized deduction amounts?
Asked Thursday, January 05, 2012 by an anonymous userCPA Answer:
If you are filing as married filing separately, both persons must file using either the standard or itemized deduction amounts. One spouse cannot use the standard deduction and the other use the itemized deduction amount.
If it costs me more in taxes , why would I file married filing separately ?
Asked Thursday, January 05, 2012 by an anonymous userCPA Answer:
Some spouses have had problems with the IRS in the past and still owe the IRS taxes. When you file a joint return, you and your spouse are both equally responsible for the taxes owed on that return. Any refund you might have been entitled to could be used to pay your spouses existing liability with the IRS or the state. Lastly, some people do not want their spouse to be aware of all of their financial involvement.
I am filing as head of household , what is the Gross income amount to determine if I must file a tax return
Asked Thursday, January 05, 2012 by an anonymous userCPA Answer:
For the current year, If your filing status is head of household and you are under 65 then your gross income must be at least $12,850 ($12,500 in 2012). If you are 65 or older then your gross income must be at least $14,350 ($13,950 in 2012). Gross income does not include Social Security benefits.
I am unmarried with a child. Do I file using the filing status single, head of household or widow(er)?
Asked Thursday, January 05, 2012 by an anonymous userCPA Answer:
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.
I got married during the year. Can I still file as single for this year?
Asked Thursday, January 05, 2012 by an anonymous userCPA Answer:
No. If you are married on the last day of the year, you must file either married filing jointly or married filing separately. You are not allowed to file as a single or Head of Household.
I am legally married . Must I file a joint tax return ?
Asked Thursday, January 05, 2012 by an anonymous userCPA Answer:
No. If you are married (as of the last day of the year),you may elect to file using the status of married Jointly or married Separately. Generally, separate tax returns may be more beneficial and save both people money, especially when both people have earnings and taxable income, and high medical or miscellaneous itemized deductions. Filing separately may allow more of the phased-out itemized deductions which are based on the taxpayer(s) Adjusted Gross Income.
Filing married filing separately - gross income amount to determine filing a tax return
Asked Thursday, January 05, 2012 by an anonymous userCPA Answer:
For the current year, If your filing status is married filing separately then your gross income must be at least $3,900. There is no age test. Gross income does not include social security benefits.
Married filing Separately - Must I itemize
Asked Thursday, January 05, 2012 by an anonymous userCPA Answer:
If the filing status you are using for filing your individual income tax return is "married filing separately", and your spouse itemizes his or her deductions, then you must use your itemized deductions even if your standard deduction exceeds your itemized deductions.