Whether a returning to school or a first time student, a college education can be a valuable – but initially expensive – career move. Using government financial aid can partially alleviate the costliness of a college degree. Attaining financial aid for married individuals has a unique set of qualifications and eligibility – read on to ...
Your filing status is a fundamental part of the individual income tax process. It will determine whether you have to file a return, what your standard deduction will be, and what your ultimate tax will be. Your filing status also affects your eligibility to claim certain tax deductions and credits. Therefore, your filing status is ...
There is great news for those who those domestic partners living in California. In 2008, registered domestic partners will be allowed the same rights and married couples under the eyes of the California State Tax Board. Through SB 1827, registered domestic partners will be allowed to file their California tax returns as either “married filing ...
When you are divorced or separated, the change generates some tax consequences that are important to take into account when preparing to file your annual federal income tax return. Filing Status Married taxpayers who file a joint return have a preferential federal income tax rate. The year you are divorced or separated, you filing status ...
There are certain conditions that must be met in order to be able to use one of the simpler forms – either the 1040EZ or the 1040A. These conditions generally refer to filing status, level and source of income, and which tax benefits are being utilized. Form 1040 is the general form that applies to ...
With the start of the New Year comes the beginning of tax season. Here are some frequently asked questions for filers in the state of Missouri. Missouri Tax Question #1: What are the minimum filing requirements in Missouri? This answer depends on your marital status and income levels, which will differ from federal levels. You ...
There are a number of different filing statutes available to an individual filer, five to be exact, but if you are married, you will need to decide whether to file jointly with your spouse, or to go out on your own and file separately. There are advantages to each one, as well as certain drawbacks. ...
The Earned Income Tax Credit is not a refund of tax monies paid by a taxpayer, but rather a credit for low to moderate income families with dependent children. This credit can be claimed during tax preparation and the funds added to any refund that is owed to the taxpayer. It also can offset payroll ...
Whether or not you are considered married has significant consequences for federal income tax purposes. If you are considered married you can combine your income in a joint return and will generally pay less tax than you would if you filed separate returns using the single status. If you are considered married you could also ...
For seniors, the Internal Revenue Service is divided into 2 parts: (1) The Good IRS and (2) The Bad IRS The Bad IRS – that’s the one we are all familiar with – its job is to try to take as much money from you as it can. The Good IRS – we don’t hear ...
