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Frequently Asked Questions

Tax Filing Status

If you obtain an annulment that declares your marriage never existed, you are considered unmarried for this and any previous tax years. You must amend your tax returns for all the tax years not affected by the statute of limitations for filing a return (usually three years) to show this change in marital status.

on Sunday November 11 by jtejada2983
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Your filing status depends on whether you are married or unmarried on December 31 of a tax year. If you live apart from your spouse and meet certain tests you may be considered unmarried for the entire year. If you are divorced under a final decree by the last day of the year, you are considered unmarried for the entire year.

on Sunday November 11 by jtejada2983
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The Head of Household filing status is for individuals that are the main providers of the household for themselves and a qualifying individual. This filing status allows you to take a higher standard deduction, possibly be eligible for a lower tax bracket, and perhaps qualify for the Earned Income Credit. If you are single or separated, check to see if you qualify for the Head of Household filing status.

on Friday November 30 by jtejada2983
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If you are married, you may choose to file a Married Filing Jointly or Married Filing Separately return. On a joint return, you report your combined income and deduct your combined allowable deductions. You may file a joint return even if only you (or your spouse) had income.

on Friday November 30 by jtejada2983
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If you are married, you have a choice of filing statuses: Married Filing Jointly or Married Filing Separately. To be sure that you pay the lowest tax, calculate your return both ways. It is usually advantageous for a married couple to file jointly. However, if both of your incomes are about the same, you may pay more in taxes by filing jointly depending on the rest of your return.

on Friday November 30 by jtejada2983
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If you are married, you may choose to file separate returns. This may be advantageous if this results in less tax liability or if either of you prefers to be responsible only for your own tax liability. You may not claim your spouse as a dependent when you file with this status. If you were separated during the entire last half of the tax year, one of you may qualify as Head of Household if certain conditions are met.

on Friday November 30 by jtejada2983
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This is a nonrefundable tax credit for payments of qualified tuition and related expenses for post-secondary education. The allowed credit is 10% of the qualified tuition, fees, and expenses you, your spouse, or a dependent paid for courses. You do not have to be in a degree program, a full-time student, or in the first four years of post-secondary education to qualify for the Lifetime Learning credit. The maximum credit allowed per return is $2,000.

on Friday November 30 by jtejada2983
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Since an employer is not withholding taxes from your income on your behalf, you may need to make quarterly estimated payments by filing Form 1040-ES, Estimated Tax for Individuals. Last year’s tax return is needed to fill out the form. Payments can be made by mail or online using either the IRS’s Electronic Federal Tax Payment System or Electronics Fund Withdrawal.

on Friday November 30 by jtejada2983
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You must report all income you receive from your business on your tax return unless it is excluded by law. If you own more than one business, you must file a separate tax return for each business.

 
To file your return, you must use Schedule C or Schedule C-EZ to report your income or loss. If a reported loss is caused by an activity “not engaged in for profit,” the loss is not allowed as a deduction against other income. Small business and individuals who are in business for themselves and make under $5,000 may be able to use Schedule C-EZ. When a net profit of at least $400 is reported on the Schedule C or C-EZ, Schedule SE should be filed. Other tax forms may be needed, depending on the type of business and where the business operates.


Business with two or more owners generally are not eligible to use Schedule C. A partnership return would have to be filed unless you are qualified for some other type of business return. A married couple who jointly operate an unincorporated business and who file a joint return can elect not to be treated as a partnership for tax purposes. The husband and wife can be the only members of the qualified joint venture and both must materially participate in the business.

on Friday November 30 by jtejada2983
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