Why Being Single or Married Will Matter to Your 2016 Tax Return"H.O.P.E. To Own" your Own Home! setTimeout(function () { $(document).ready(function(){ $('#myModal').modal(); }); }, 5000);

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Why Being Single or Married Will Matter to Your 2016 Tax Return

3 Feb , 2015  

There’s so much taken into account regarding your 2016 tax return, that there’s no wonder why you get such a tax return benefit with H.O.P.E. to Own in the first place. After all, it’s a service allowing you to file your 2016 tax return in only two hours, but know that because of your qualified tax preparer, you get to know just what your situation may be and what it means for your refund. First off: did you know that it makes a difference if you’re married or single?

Yes, I Did! This Is Old News to Me!tax return wedding

We’re quick, though, to assume that either way’s beneficial as far as a 2016 tax return is concerned. Don’t be too quick to judge, though. Whether or not your bachelorhood or marriage makes a difference largely depends on your income. The fact of the matter is you can file separately or jointly without penalty. It’s not like the IRS will ask you for a marriage certificate.

Why It Might Matter to Your 2016 Tax Return If You’re Married

Your income and even your age definitely matters, yes, but here’s just an example of how things can differ between person to person to couple to couple. Everybody’s financial situation’s different, and you might not have to worry about filing your 2016 tax return.

Take single taxpayers, for instance: if you happen to be 65 years old and earning less than maybe $10K, you actually won’t have to file any taxes at all. That’s something to be aware of. Likewise, married couples under the age of 65 making less than around $20K actually don’t have to file either. If you’re a dependent, as well, earning less than $6.1K, forget about your 2016 tax return; it’s not necessary.

Other Issues That Play a Role in Your 2016 Tax Return

What if you happen to be the “head of household”? Perhaps you’re widowed, or a widower? These are all “special” categories that are taken into account when filing your 2016 tax return, and they can drastically affect your refund even more. It’s pretty staggering. To learn more, you can simply contact the H.O.P.E. Program and get your 2-hour tax return managed immediately. Don’t hesitate. This is the new year — single or married, senior citizen or student, you’re going to put your best foot forward and start it off the right way.

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