Married, Single, or “It’s Complicated”:

What Your Filing Status Says About You

Tax season is kind of like Facebook in 2009, your relationship status really matters. Whether you’re single, married, or somewhere in between, your tax filing status can affect how much you owe or how much you get back. So, which one should you choose? Let’s break down each filing status (with a little humor) and some real tax-saving advice.

Single:

The “Me, Myself, and I” Taxpayer

You’re independent, self-sufficient, and don’t have to check in with anyone before making big financial decisions. Tax-wise, it’s pretty straightforward. You report only your income and take the standard deduction or itemize your deductions if that benefits you more.

Perks of Filing as Single:

• Simple tax return, less paperwork, fewer complications.
• You only have to deal with your own income (no spouse’s side hustle throwing a wrench in things).
• There’s no need to coordinate with anyone else on deductions.

Potential Downsides:

• Your tax brackets aren’t as friendly as they are for Married Filing Jointly filers.
• You don’t get extra deductions for dependents, unless you qualify for Head of Household (more on that below).
• This option is best for those who are truly single, divorced, or legally separated.

Married Filing Jointly:

The “What’s Mine is Yours” Approach

Ah, marital bliss. If you’re legally married, the IRS gives you the option to file together and in most cases, this is the better deal.

Perks of Filing Jointly:

• Bigger standard deduction.
• Better tax brackets. The IRS is nicer to married folks, so you might pay less overall.
• More tax credits. Earned Income Tax Credit (EITC), Child Tax Credit, and education credits are usually easier to qualify for together.
• Easier paperwork. One return, one tax bill, fewer headaches.

Potential Downsides:

• If your spouse owes back taxes, student loans, or child support, your refund could be taken to cover their debt.
• You’re both responsible for any mistakes, even if one person handled the filing.
• If one spouse has high medical expenses or other deductions, filing jointly might reduce the benefit of claiming them.
• This option is best for most married couples, especially if one spouse earns significantly more than the other (since you can take advantage of lower tax brackets together).

Married Filing Separately:

The “I Love You, But Not Your Tax Situation” Approach

This status is for couples who are still legally married but want separate tax returns. Why? Maybe one spouse has major medical expenses or legal troubles, or maybe you just like keeping things separate.

Perks of Filing Separately:

• If one spouse has a lot of deductions, filing separately might mean a lower tax bill overall.
• Protects one spouse from the other’s tax debt (the IRS won’t take your refund to cover their past mistakes).
• If one spouse has student loans on an income-based repayment plan, filing separately may keep payments lower.

Potential Downsides:

• You lose out on several tax credits, including the Earned Income Tax Credit (EITC).
• Your tax brackets aren’t as favorable – meaning you’ll probably pay more.
• If one spouse itemizes deductions, the other can’t take the standard deduction. They must itemize too, even if it doesn’t benefit them.

This option is best for couples where one spouse has high medical bills, major deductions, or legal/financial issues. Otherwise, filing jointly is usually better.

Head of Household:

The “Single But with Responsibilities” Status

You’re not just single, you’re running the show. If you’re unmarried but supporting a child or dependent, you might qualify for Head of Household, which offers a bigger standard deduction & better tax brackets.

Perks of Head of Household:

• A bigger deduction than filing single.
• Lower tax rates. You move into higher brackets more slowly.
• Potential for better tax credits, like the Child Tax Credit.

Potential Downsides:

• You must pay for more than half of household expenses (rent, utilities, food, etc.).
• The dependent must live with you for more than half the year.
• If your child’s other parent claims them as a dependent, you can’t claim Head of Household.

This option is best for single parents or individuals supporting a family member (like an aging parent).

Qualifying Widow(er) with Dependent Child:

The “Married Filing Jointly for One More Year” Option

If your spouse passed away, the IRS gives you a tax break for up to two years after their death—as long as you have a dependent child.

Perks of This Status:

• You get the same tax rates and standard deduction as Married Filing Jointly.
• It can help reduce financial strain after a spouse’s passing.

Potential Downsides:

• You must have a dependent child to qualify.
• This status only lasts two years. After that, you’ll file as Head of Household or Single.

This option is best for widows or widowers with dependent children, within two years of their spouse’s passing.

Choosing the Right Filing Status

Picking the right filing status isn’t just about checking a box. It affects how much you owe (or get back). If you’re unsure which status is best for you, run the numbers both ways or talk to a tax pro (hi, that’s us!).

Here’s Quick Recap:

Single:

You’re on your own, tax-wise. Simple but not always the best deal.

Married Filing Jointly:

Usually the best option for married couples. Bigger deductions, better brackets.

Married Filing Separately:

Only useful in specific cases (big deductions, student loans, tax debts).

Head of Household:

The best option for single parents or those supporting a dependent.

Qualifying Widow(er):

A temporary tax break for surviving spouses with children.

Need Help?

If you’re not sure which status saves you the most money, we can help you file with confidence and keep more of your hard-earned cash. Taxes are complicated, but your relationship with the IRS doesn’t have to be.