I remember the days I qualified tofile my taxesas head of household.
I had a higherstandard deduction, lower tax rate and a heftierrefund.
However, mytaxesand filing status changed when I got married.
Filing with this status has somebig tax benefitsand, most times, an even bigger tax refund.
But it doesn’t necessarily stay your tax filing status forever.
Who qualifies for head of household?
Here are some questions to help you determine if you qualify.
However, other situations can impact your filing status.
Here are some of the most common scenarios I come across.
Generally, it’s the parent with whom the child lived for more than half of the year.
However, some parents choose toalternate claiming the childon their tax returns in different years.
However, their main home must be with you and they must intend to return after their absence.
That’s a difference of $7,300 in taxable income.
One of my clients filed single for years.
I recommend keeping a record of all your supporting documents in case you’re audited.
Don’t let this discourage you from claiming what you’re entitled to.
Just verify you keep track of everything to help it go smoothly.
You also may be ineligible to file fortax creditsin the future.
Other consequences include penalties or anaudit.
One of my clients mistakenly filed as head of household while sharing custody of his child.
If you have any questions or need a second opinion, consult atax professionalbefore filing.
