Single Head Of Household Taxes
Question: How does claiming single head of household help me on my taxes this year?
Answer: You get to claim a larger personal exemption, which reduces your Taxable Income and consequently your taxes for the year. If you get a refund, it will increase your refund by the amount that you saved in taxes. Be careful, though…the requirements for filing head of household are very specific. You have to have provided more than 50% support for a person who lived with you but was not your spouse. If you go to www.irs.gov it will give you the specifics and any exceptions. Hope this helps…
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Basic Explanation of W-4 tax Form : Deductions & Adjustments Worksheet: W-4 Tax Form
