BUISENESS MANAGEMENT
TAXES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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If you are not married and have no dependents (typically children under 17), you will most likely choose which filing status?
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single
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married filing jointly
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married filing separately
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head of household
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Explanation:
Detailed explanation-1: -What is the best filing status for a single person? In terms of standard deductions, head-of-household status is the best filing status for a single person because it offers the biggest standard deduction.
Detailed explanation-2: -Normally this status is for taxpayers who are unmarried, divorced or legally separated under a divorce or separate maintenance decree governed by state law. Married filing jointly.
Detailed explanation-3: -Married individuals cannot file as single or as the head of a household. Keep in mind the requirements are the same for same-sex marriages. If you were legally married by a state or foreign government, the IRS will expect you to file as married.
There is 1 question to complete.