What’s the single most important decision we make when preparing a tax return? That most important decision is the client’s filing status! There are five different filing statuses: single, married filing jointly, married filing separately, head of household and qualified surviving spouse.
The filing status impacts pretty much every aspect of the tax return, starting with the filing requirements, including how much standard deduction is allowed and which credits the client can take and ending, ultimately, with the actual calculation of the client’s tax.
with Amy Wall
