It’s my annual Taxes from A to Z series! If you’re wondering how to figure basis for cryptocurrency or whether you can claim home office expenses during COVID, you won’t want to miss a single letter. H is for Head of Household. I know what you’re thinking: Head of Household is an easy one. That’s…
The Tax Cuts and Jobs Act (TCJA) made a number of changes that affect the tax burden on families. However, those changes did lead to some questions. The Internal Revenue Service (IRS) has announced that it intends to issue proposed regulations to clarify who is a qualifying relative for the new $500 credit for dependents…
It’s Valentine’s Day. Traditionally, it’s a day filled with candy, flowers and fancy dinners, all while celebrating (or alternatively, trying to make sense of) your current relationship. Sometimes, figuring out where that relationship stands can get a little tricky, leading to all of those “It’s complicated” status updates on Facebook (and maybe an extra glass…
And just like that, summer is nearly over and it’s back to work. This week, I’ve been sorting through the “Ask the Taxgirl” mailbag and I’m seeing a number of questions that are similar in nature. Many of them are related to the same, tired arguments that taxpayers make over and over. Just because your…
Today’s Fix the Tax Code Friday question is inspired by a comment on yesterday’s post from TexasEd: What if there was no such thing as filing status? No single, no married filing separate, no married filing jointly, no head of household, no qualifying widow with dependent child. Just one taxpayer per return. What do you…
[IMPORTANT editor’s note: When I wrote this post, I began with “I don’t think so” because the rules are very confusing and this falls under an exception. Since the original post, I’ve been made aware that I was wrong. Hey, it happens. I’ve chosen to retain the original post since the comments address what’s wrong…
