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What filing Status am I on my Tax Return ? / Income Tax Tips #8 / Single - Head of Household / CPA - YouTube
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yo yo yo CPA strength here back with
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right now you gotta like it right now
you'll have good luck the rest of your
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life
what is this video gonna be about this
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is about filing status on a 1040 filing
status let's get to the basics there's
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five filing statuses that's it there's
if when you do a 1040 tax return there's
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gonna be five oh I am a licensed CPA in
the state of Florida I'm the strongest
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CPA in the state of Florida but I'm a
licensed CPA in the state of Florida
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I've done well over a thousand different
tax returns in the last seven years
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going into my seventh seventh season as
a tax preparer currently and I think
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this would be helpful there's also
questions I've gotten from people from
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clients below both let's get into it so
there's five five filing statuses that's
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it there's they if you if you file a
1040 tax return your file your status
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when you file your filing status is
either gonna be single married filing
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jointly so look up I should have put a
number in i probe box there's one two
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married find wellies another one
a third one married filing separately a
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fourth one had a household and a fifth
one qualifying would it work now that's
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it
there's only five so it's pretty cool I
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guess you got a 20% chance of being
correct now let's just look this is
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going into I just looked on the 2017
because we're in 20 year 2018 but we
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file for the for the previous year
always in the past I tend to live my
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life in the past but I guess I'm gonna
countin so these are the standard
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deductions we just went over standard
reduction and yesterday's video because
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it was standard or itemized these
amounts change every year I just want I
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just want you to notice that single
single deduction standard deduction and
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married filing separately are the same
amounts married filing jointly and
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qualifying widower are the same amounts
kinda households a zone amount so you
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got one two
so there's five filing statuses three
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different amounts let's go with single
what would single be me forever alone me
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I'm not married I don't have any
dependents I think the I looked at the
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publication seventeen that's where I get
all my all my information because the
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IRS puts out the publication seventeen
anyways I was reading the pub 17 you can
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get the publication seventeen a Ferriss
website really anything I say about tax
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information can be found on the IRS
website I I was saying singles if you're
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not married and no dependents or not
married and doesn't mean any other
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factors so single
I would say well on that's what I file
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I'm not married and I don't have a
dependent I belitz oh not married and no
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dependent
yeah probably spelled dependent wrong
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that's why that's why I get it real
sloppily so you can't tell let's go to
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our next one married filing jointly you
gotta have two socials for this one
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married filing jointly this is your
married blessings plot scenes you found
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someone to show the rest of your life
with you should I should be so lucky
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someday you found that special someone
you're married you're gonna file a tax
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return together so you good file married
filing jointly if you're married and you
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want to do it together now there's a
third one bird filing separately that is
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you're still married but you don't want
to file with your spouse with you you
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don't want to file with your partner for
a myriad of reasons there are so many
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reasons but that's the third one married
filing separately you're married and you
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want to file separately single you're
not married no dependents very fun
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totally married married and you want to
file jointly very fun separately you're
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married and you want to file separate
we're gonna skip had a household because
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I want to kind of finish up with that
one possibly will go to qualifying
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qualifying we're gonna skip over that
head of household big brother
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HOH qualifying widower that is widower
you're married your spouse passed away
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but there are stipulations you can only
do this for you can only use this one
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for two years not remarry and you need a
dependent out of my thousand something
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tax returns I think I've done one of
these maybe two so this does not happen
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very often you need to be need to be a
widower and have dependent and let's go
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back to how that household now you say a
single person you says I've had in my
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household I'm the head of my household I
don't really work like that you
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basically the main thing to be had a
household is to be a household you have
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to have a dependent a dependent and and
I don't know if this is an anger ye I
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don't have spellcheck on this I'm sorry
after 300 videos if I make a spelling
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error so I need a dependent so I need a
kid you know a child child parent to be
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to be head of household this video is
definitely long enough you know I would
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look at the pub 17 has a bunch of
different rules I just wanted you to
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know that there's five five different
filing statuses this is I guess singles
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the default this one's the default it's
like if you don't fit in any other
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category so singles the default are you
married you want to file with somebody
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married filing jointly you married your
spouse passed away you have a dependent
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qualifying would work
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you're single you're married but you're
not filing together and have it and have
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a child or a parent or dependent that's
had a household you're married
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don't want to file with that person very
fine separately that's basically and I
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hope you liked the video hope you
enjoyed the video hope you find it
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helpful and until tomorrow this is CP a
strength and I'm out a doses I guess if
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I say deuces I should say a deuces
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