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  2. Tax Filing: Head of Household Versus Single

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    Single filing status usually applies to unmarried taxpayers without dependents who live with them. ... The standard deduction also rises from $14,600 for single filers to $21,900 for heads of ...

  3. Guide To Filing Taxes as Head of Household vs. Single

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    Filing as single means you are unmarried, divorced or legally separated. Filing as head of household means you are unmarried and have at least one qualifying dependent.

  4. Every Tax-Filing Status Explained - AOL

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    Head of Household Standard Deduction: Filing as the head of household, a taxpayer can claim a standard deduction of $18,650 for tax year 2020. Learn More: 8 Best Tax Tips for Single Parents 3.

  5. Head of household - Wikipedia

    en.wikipedia.org/wiki/Head_of_Household

    The head of household filing status was created in 1951 to acknowledge the additional financial burdens faced by single people caring for dependents. [ 3 ] [ 1 ] Consequently, it provides single parents and other people caring for qualifying dependents with a larger standard deduction and preferential tax rates compared to single filers ...

  6. Non-qualified stock option - Wikipedia

    en.wikipedia.org/wiki/Non-qualified_stock_option

    Non-qualified stock options are frequently preferred by employers because the issuer is allowed to take a tax deduction equal to the amount the recipient is required to include in his or her income. If they have deferred vesting, then taxpayers must comply with special rules for all types of deferred compensation Congress enacted in 2004 in the ...

  7. Top Tax Deductions and Tax Credits You Should Know for 2023 - AOL

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    Say, for example, you earned $100,000 last year and plan to take the standard deduction as a single filer. This lowers your taxable income to $87,050. Instead of paying tax on $100,000 in income ...

  8. Vesting - Wikipedia

    en.wikipedia.org/wiki/Vesting

    In cases of partial vesting, a "vesting schedule" is a table or chart showing the portion of a right that is vested over time; typically the schedule provides for equal portions to vest on periodic vesting dates, usually once per day, month, quarter, or year, in stairstep fashion over the course of the vesting period.

  9. Now That You’re Divorced, Who Claims Your Child on Taxes? - AOL

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    Although the TCJA eliminates dependent deductions, the law makes up for this loss of tax savings by nearly doubling standard deductions. ... Previous Standard Deduction for 2017 and Before. Single ...