Thursday, January 21, 2010

What is the difference between fileing taxes single status and fileing married status?

If you are married as of December 31st, then you have to file married filing joint or married filing separately. If you are single as of December 31st, then you cannot file as married.What is the difference between fileing taxes single status and fileing married status?
The process is basically the same. You don't have a choice between the 2. Are you asking about 'Married filing Jointly' vs 'Married filing Separately'? If you are Filing Jointly is usually better.What is the difference between fileing taxes single status and fileing married status?
You also get a bigger standard deduction and pay tax at a lower rate. The highest tax rate is for married but filing single. Lowest is for married filing joint.
And you have to be single to file single status.
you have to be married to file married status

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