There are several filing status categories that can be used when filing your Personal Federal Income Return and we will discuss that in the next couple of tax tips.

There are a few general rules for choosing a filing status. If you qualify for more than one status, you may chose the one that most benefits you. However, you meet all requirements for each filing status before you can choose that one. Your filing status is determined on the last day of the year.

If you are legally married prior to midnight on December 31, then you are considered legally married for the entire year and you may claim the status of “Married Filing Jointly.” If you are not legally married by that time, you may NOT use that status.

If you are divorced on December 31 and not remarried or if you have never married or if you are single without a dependent child, then you must choose the “Single” status when filing your return.

 
This information is provided in an effort to help you gather and organize the information necessary to file your individual or small business income tax return. While these financial tools are not a substitute for financial advice from a qualified professional, they can be used as a starting point in your decision making process.