
Without knowing the right tax filing status, you could end up paying more tax than you should or worse, you could end up filing for a wrong one. Selecting the right tax filing status can have a great impact on the tax benefits that you receive; the amount of taxes that you pay or the amount of your standard deduction.
Currently, there are five filing statuses for you to choose from. Most people can claim a filing status erroneously but in good faith. The filing status that is mostly filed in error is the “Head of Household” status.
In choosing the right filing status, firms such as AP Tax Group advice that you consider the following:
Marital...