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2. Filing status - Wikipedia

   en.wikipedia.org/wiki/Filing_status

   An individual's tax liability depends upon two variables: the individual's filing status and the taxable income. [16] The status can determine the correct amount of tax, whether the taxpayer can take certain tax deductions or exemptions that could lower the final tax bill, and even whether one must file a return at all. [17]

3. Head of household - Wikipedia

   en.wikipedia.org/wiki/Head_of_Household

   Usually have a qualifying person who lived with the head in the home for more than half of the tax year unless the qualifying person is a dependent parent Advocates of the head of household filing status argue that it is an important financial benefit to single parents, and particularly single mothers, who have reduced tax burdens as a result ...

4. Marriage penalty - Wikipedia

   en.wikipedia.org/wiki/Marriage_penalty

   The US tax code fixes different income levels for passing from one marginal tax rate to another, depending on whether the filing is done as a single person or as a married couple. For lower incomes, the transition points for married couples are twice those for single persons, which benefits a couple that gets married if their incomes are ...

5. What are the tax brackets for tax years 2024 and 2025? What ...

   www.aol.com/tax-brackets-tax-years-2024...

   The IRS announced tax rates for its seven tax brackets for tax year 2024: 37% – Single income over $609,350 and married couples filing jointly with income over $731,200. 35% – Single income ...

6. Tax Filing: Head of Household Versus Single

   www.aol.com/tax-filing-head-household-versus...

   For example, in tax year 2024 the head of household 12% tax bracket is $63,100 (which is up from $59,850 in 2023) of taxable income compared with just $47,150 for single filers (which is up from ...

7. The tax code is made for tradwives. Here’s how much it ...

   www.aol.com/finance/tax-code-made-tradwives-much...

   As a single individual, they’ll pay about $200,000 in income taxes over the course of their life. ... That same feature of the tax code implies that when two people with equal incomes marry ...