Saturday, November 1, 2014
Filing taxes can be difficult for anyone, but it can be particularly complex for people whose family situations are less traditional. Single-parent households, families with foster children, grandparents raising grandkids, and blended families all face their own tax challenges.
As our definition of "family" shifts and expands and people increasingly find themselves living in non-nuclear families, it's important to be aware of how your family status might affect the taxes you pay. Depending on your specific situation, you may be eligible (or ineligible) for certain credits or deductions, or need to take certain planning steps to protect your family's assets. Below is an overview of three key filing statuses to be aware of.
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