Category Archives: Tax

Tax Tips for Single Mother

Tax Tips for Single Mother

Becoming a single a mother is very difficult since you have to work as well as take care of house and children every day. Your spending may not get along with your income and problem come when you have to pay taxes. Actually, there are some valuable information to save your money on taxes.

  • If you are an employer, you will get W-4 form. You should fill the form with amount of taxes that you withhold for federal taxes. More numbers that you write, less taxes you should pay. You will receive two exemptions if you have a child. However, the disadvantage that you can get is reduction of taxes return at the end of year.
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Tax Tips for Single People

Tax Tips for Single People

Many people want to save money on taxes or at least, they can pay it when the time comes. The key point to get tax benefits is by knowing several tax deductions that you may not realize it before, especially if you are single. There are numerous possible tax deductions available for single that can be used optimally.

  • Every single person gets tax deduction of more than $5,000 automatically. If you are head of household, you will receive more reduction for about $8,000. You can claim yourself as the head of household if you contribute for more than half of financial support of the household or you responsible for minors within the household.
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