Standard Deduction

Standard Deduction for Tax Year 2019 One hundred fifteenth congress of the United States of America, under section 11000 short title standard deduction for tax years 2019 up to 2025 has been amended. Standard Deduction definition? United States of America tax law considers a federal standard deduction or state standard deduction is a fixed dollar […]

What is Married Filing Jointly (MFJ)?

Married Filing Jointly – MFJ: Both the spouses income whether earned or unearned income can be added on Married Filing Jointly tax return, in turn a primary tax payer can claim a standard deduction amount of $24400 on tax returns. Even if one spouse has income and the other does not still a husband and wife […]

Can I File Head of Household Filing Status?

Head of Household (HOH) is a filing status chosen on tax returns to get standard deduction of $18350 for tax year 2019. A taxpayer can choose to file head of household filing status if married or unmarried, but should be taking care of the home or qualified person’s expenses. Filing head of the household filing status […]

Can I Choose Single Tax Filing Status, How & Why?

Single Tax Filing 2019: We have taken this opportunity to give you brief information about determining your exact filing status so that you can file accurate tax returns, let go through the information below. What is Single Tax Filing Status? A tax payer has to determine his tax filing status to get better tax benefits […]

Can I Choose Married Filing Separately?

Married Filing Separately Filing Status There has been always a doubt in choosing the right fling status, to choose whether Single Tax Filing, Married Filing Jointly or Married Filing Separately. Let’s go through the details and information below about eligible filing statuses. What is Married Filing Separately (MFS)? MFS – Married Filing Separately is a […]