Advantages
A taxpayer using the Head of Household filing status is entitled to used the Head of Household tax rates, which feature wider tax brackets. Also, the taxpayer is entitled to a larger standard deduction ($8,700 in 2012) than taxpayers using Single or Married Filing Separately ($5,950 in 2012).
Read more about this topic: Head Of Household
Famous quotes containing the word advantages:
“There is no one thoroughly despicable. We cannot descend much lower than an idiot; and an idiot has some advantages over a wise man.”
—William Hazlitt (1778–1830)
“If the minds of women were enlightened and improved, the domestic circle would be more frequently refreshed by intelligent conversation, a means of edification now deplorably neglected, for want of that cultivation which these intellectual advantages would confer.”
—Sarah M. Grimke (1792–1873)
“Men hear gladly of the power of blood or race. Every body likes to know that his advantages cannot be attributed to air, soil, sea, or to local wealth, as mines and quarries, nor to laws and traditions, nor to fortune, but to superior brain, as it makes the praise more personal to him.”
—Ralph Waldo Emerson (1803–1882)