can someone please answer this tax question.?

Question

i am a single father i live with my child. i am not sure how to file. should i file single and pick up my son that way or should i file head of house hold. also is there a big difference in the two as far as how much you would get back.

Answer 1

As Long as you qualify you should be filing as a head of household. The tax savings depends on your income but the tax brackets are more favorable as a H of H rather than as a single filer.

Answer 2

Head of Household, definitely. Single filing is for those w/out dependents.

I dont' know your income level, but this may save you some money, or perhaps you know someone...

Make sure that you get the full benefit of your refund by staying far away from H & R Block or one of those other commercial places. The IRS has a program called VITA that does free tax preparation for households earning $40,000 or less. They can make sure that you get all your eligible credits, such as the Earned Income Tax Credit, the Child Tax Credit, the Dependent Care Credit, etc.

This is an absolutely FREE service. They can e-file and do direct deposit so that you can get your return back in 7-10 days. There is no need to get a refund anticipation loan, which is really nothing more than a high interest loan where you would be paying to borrow your own money. You have worked hard for your money and you should be able to keep it! To find a VITA free tax site near you, call the IRS at: 1-800-829-1040.

Answer 3

If you qualify for head of household, which you probably do if you're providing a home for your son and he's your dependent, then you will save on taxes filing that way rather than single. And depending on your income, there can be a very big difference. But even if it's small, you should have the money rather than leaving it with the IRS.