Question 1

What is the difference between filing statuses (Single, Married, Head of Household)?

Accepted Answer

Filing status determines your tax brackets and standard deduction. Single is for unmarried individuals, Married Filing Jointly combines income for couples with wider brackets and larger deductions, and Head of Household is for unmarried individuals supporting dependents with more favorable brackets than Single.

Question 2

What is the Standard Deduction?

Accepted Answer

The Standard Deduction is a fixed amount subtracted from your gross income before calculating taxes. For 2026, it is approximately $15,000 for Single filers and $30,000 for Married Filing Jointly. Most taxpayers use the standard deduction instead of itemizing.

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