What different tax return filing statuses are there?

What different tax return filing statuses are there?

What does single status mean on a tax return?

What does single status mean on a tax return?

What does Married filing jointly mean on a tax return?

What does Married filing jointly mean on a tax return?

What does Married filing separately mean on a tax return?

What does Married filing separately mean on a tax return?

What does Head of Household mean on a tax return?

What does Head of Household mean on a tax return?

How do I change my filing status from year to year?

How do I change my filing status from year to year?

Who can help me if I am audited?

Who can help me if I am audited?

What should I do if I am audited?

What should I do if I am audited?

How can I avoid being audited?

How can I avoid being audited?

What does it mean to be audited?

What does it mean to be audited?

What is the 2007 tax rebate?

What is the 2007 tax rebate?

What is this alternative minimum tax?

What is this alternative minimum tax?

How do I claim my tax credits?

How do I claim my tax credits?

Who qualifies for tax credits?

Who qualifies for tax credits?

What is earned income credit?

What is earned income credit?

Do I have any credits against my tax?

Do I have any credits against my tax?

Are other deductions possible when filing my tax return?

Are other deductions possible when filing my tax return?

Can I claim all my charitable contributions of cash or property as a deduction?

Can I claim all my charitable contributions of cash or property as a deduction?

What taxes did you pay?

What taxes did you pay?

Can I claim my mortgage or other interest expense as a deduction?

Can I claim my mortgage or other interest expense as a deduction?

Can I claim medical expenses as a deduction?

Can I claim medical expenses as a deduction?

Can I claim my outstanding student loan as a deduction?

Can I claim my outstanding student loan as a deduction?

Can I claim deductions for all my education expenses?

Can I claim deductions for all my education expenses?

What deduction options do I have when filing a tax return?

What deduction options do I have when filing a tax return?

How do I claim capital gain?

How do I claim capital gain?

What is capital loss?

What is capital loss?

What is capital gain?

What is capital gain?

Can I deduct retirement plan contributions?

Can I deduct retirement plan contributions?

How does the self employment tax work?

How does the self employment tax work?

How do I deduct my home office?

How do I deduct my home office?

What deductions are available for self employment or home businesses?

What deductions are available for self employment or home businesses?

How do I report the income for self employment or a home business?

How do I report the income for self employment or a home business?

What is a Schedule C?

What is a Schedule C?

What is considered a home business?

What is considered a home business?

What makes me self-employed?

What makes me self-employed?

How and When to Use a 1099 Form

How and When to Use a 1099 Form

How and When to Use a W-2 Form

How and When to Use a W-2 Form

What is the maximum age of the dependent for my tax return?

What is the maximum age of the dependent for my tax return?

Do relatives qualify as dependents on my tax return?

Do relatives qualify as dependents on my tax return?

How does my child qualify on my tax return?

How does my child qualify on my tax return?

Who qualifies as a dependent on my tax return?

Who qualifies as a dependent on my tax return?

What are dependents and how do I claim them on my tax return?

What are dependents and how do I claim them on my tax return?

How do I change my filing status from year to year?

How do I change my filing status from year to year?

What does Head of Household mean on a tax return?

What does Head of Household mean on a tax return?

What does Married filing separately mean on a tax return?

What does Married filing separately mean on a tax return?

What does Married filing jointly mean on a tax return?

What does Married filing jointly mean on a tax return?

What does single status mean on a tax return?

What does single status mean on a tax return?

What different tax return filing statuses are there?

What different tax return filing statuses are there?

How long should I keep my tax return paperwork for?

How long should I keep my tax return paperwork for?

What should I do first to start filing my taxes?

What should I do first to start filing my taxes?

What should I do if I don't understand the tax return terminology?

What should I do if I don't understand the tax return terminology?

How should I organize my paperwork for filing my tax return?

How should I organize my paperwork for filing my tax return?

What papers do I need to prepare my tax return?

What papers do I need to prepare my tax return?

What are the options to prepare my tax return?

What are the options to prepare my tax return?

What do I need to start the process of preparing my tax return?

What do I need to start the process of preparing my tax return?

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Art Auerbach

Tax Director, Goodman & Company, LLP

http://www.goodmanco.com/  

Serving clients since 1932, Goodman & Company brings 75 years of knowledge and experience to the demands of today's ever-changing business environment. Throughout the past 75 years, we've never strayed from our mission-to provide each client with personal, high-quality service using the most up-to-date technology and resources.

What does single status mean on a tax return?

Goodman & Company Tax Director Art Auerbach explains the implications of "single" status when filing a tax return.

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Host: What does single status mean on a tax return?

Aurthur Auerbach: Single means that as of December, 31st of the year in question you are not married or you may have been married during the year and during that tax year or a prior year there was a Divorce Decree signed by a Court or some Separation Agreement signed by a Court. So you are officially separated as of the end of the year that means you have the ability to file as a single individual as long as there are no dependent children. Then we will get to head of household in another segment or in other question. But generally, that's single. The illustration that is going to come up again in a few minutes, it's unfortunate if you are a parent and your children decide to get married on December, 31st because if they do that you lose the Dependency Exemption because they can file jointly with their new spouse. They are not single anymore; they are not your dependent anymore. So it's really important to know that December 31st determines your status for tax purposes.