I am married with one kid. My wife is not working.
Should I use "Head of Household" or "Married filed Jointly"?
2006-10-06 12:50:28 · 8 answers · asked by enscanaba 1 in Business & Finance ➔ Taxes ➔ United States
You don't qualify to use "Head Of Household". It is specifically for singles who are supporting a relative.
Your only options, assuming you live with your wife, are Married filing Jointly, or Married Filing Seperately. I have attached an IRS Publication outlining filing status.
2006-10-06 13:12:22 · answer #1 · answered by Katie Short, Atheati Princess 6 · 2⤊ 0⤋
Married filing Jointly. Head of Household is for single people with kids. The only other way married people can file is Married filing Separately and that usually costs you more in taxes.
2006-10-06 21:16:59 · answer #2 · answered by sjbluebelle 2 · 1⤊ 0⤋
If you're married, you can't use "head of household" - you wouldn't want to anyway, rates are higher than for "married filing jointly" which is what you should use. You are also allowed to use "married filing separately" but it would cost you more.
2006-10-06 21:33:50 · answer #3 · answered by Judy 7 · 1⤊ 0⤋
Married filing Jointly would give you the best tax advantage.
2006-10-07 15:24:36 · answer #4 · answered by Angela G 1 · 0⤊ 0⤋
Assuming that you have lived with your wife anytime since June 30th you have only two choices being Married Filing Jointly or Married Filing Separately. the later is a really bad idea for most people which leaves you with only one real choice, MFJ. But if you would like to check this out for yourself here is the IRS publication that has all of the answers. Yours is in the first chapter.
http://www.irs.gov/pub/irs-pdf/p17.pdf
2006-10-07 00:23:37 · answer #5 · answered by ? 6 · 0⤊ 0⤋
Married filing jointly is the best way financially.
2006-10-06 19:56:05 · answer #6 · answered by rsbdkaise 3 · 0⤊ 0⤋
You should file 'married filed jointly'.
If you use Turbo Tax or other tax preparation software, you can run the different scenarios to see which will give save you the most taxes.
Or ask your tax preparer...
2006-10-06 20:06:54 · answer #7 · answered by Chuckie 7 · 0⤊ 1⤋
head of household, because your wife doesn't work so she doesn't have income to file. Also, it should help since you have a non-working spouse and a child. Always ask your account what filing status would benefit you most. Normally it will only take them less than 2 mins to switch your filing status and can tell you on the spot w/ status will give you better results.
2006-10-07 01:14:10 · answer #8 · answered by sarkatick 2 · 0⤊ 3⤋