Tag Archives: filing status

Itemized or Standard Deduction?

Posted on February 20, 2016 by Lisa W. Hull

The IRS statistics show that most taxpayers use the standard deduction. However, you may be able to reduce your tax bill if you itemize on Schedule A. What expenses are deductible on Schedule A? I think most people are familiar … Continue reading →

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Married Filing Joint vs. Married Filing Separately

Posted on October 1, 2014 by Lisa W. Hull

I’ve always believed married filing separately was never desirable because the tax rates are higher and many tax benefits are not available to those who file separately. However, today when I was working with a client going through a divorce, … Continue reading →

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Filing Status: Married Filing Separately

Posted on February 8, 2014 by Lisa W. Hull

Married individuals may choose to file separately rather than filing one joint return.  Married filing separately is the least favorable filing status. The standard deduction for this status in 2013 is $6,100 and $6,200 in 2014. Not only does the … Continue reading →

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Filing Status: Head of Household and Single

Posted on February 1, 2014 by Lisa W. Hull

Head of Household Tax rates for head of household filing status are not as good as married filing jointly but better than single. The standard deduction available for head of household in 2013 is $8,950 and in 2014 is $9,100. … Continue reading →

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