Wednesday, January 6, 2010

Misconceptions about filing status

Your marital status on the last day of the year determines your marital status for the entire year.

If you marry on the last day of the year, you are considered married for the entire year. Your filing choices are married filing jointly or married filing separately. If your divorce is final on the last day of the year, you are considered single, or head of household if you pay more than half the cost of maintaining a home for yourself and a qualifying person.

If your spouse died during the year, and you didn’t remarry, you are considered married and can still file jointly with your late spouse for the year of death.

If more than one filing status applies to you, choose the one that gives you the lowest tax obligation.

Tax questions? Call Ameritax at (508) 993-4343, or any of our offices.

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