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Head of Household - Should I use it?

With all of the changes in the Obama administration, I am left wondering about the decisions I've made on my W2. First and foremost, I don't recall if I am claiming Head of Household.

Q. Is Head of Household optional?

I have two minor children and my wife is a nursing student. She will graduate in a year and a half, but I believe I have always claimed HoH. I have paid more than 1/2 of the household expenses for the past year. I found that this is one of the criteria. But I'm not sure that it would really be beneficial to claim HoH.

Q. What are my options? Once she has graduated, I will really be pushing it to keep us in our current tax bracket. I don't think it will be possible if I am claiming HoH.

Thanks in advance,

R
Reply to
rhollmer
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The W-4 form that you give to your employer is a planning tool.

It is designed to help you withhold the right amount of federal income tax. If you significantly underwithhold, the IRS might impose a monetary cost on you, so try to get it right.

When you file your tax return, you ar calculating the exact amount of tax. And you must select the correct filing status.

If you are married and not living apart from your spouse you are not eligible to select head of household, so it would be a good idea not to use it on your W-4 form for your employer either.

Reply to
Arthur Kamlet

Are you asking about your W-4 or your tax return?

The W-4 does not offer a HOH status. It offers Single, Married, Married But Withhold at Higher Single Rate.

If you are asking about your tax return, you cannot claim HOH if you are married and living together. You would file "married filing joint".

Reply to
CMS, VA CPA

Excellent information. Thank you both for answering. I have a large amount withheld to make sure I never owe any taxes at the end of the year, but I wasn't sure if I was claiming HoH without thinking about it. Thanks again. -R

Reply to
rhollmer

To bean HoH, you have to be unmarried or separated every single day for the last six months of the tax year. Based on your facts as presented, your filing status is Married Filing Jointly.

Dick

Reply to
Dick Adams

Or Married filing separately (if you dare choose it).

Reply to
D. Stussy

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