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For a single mom with two small children, the best filing status is often "Head of Household." This status typically offers a higher standard deduction and more favorable tax rates compared to "Single." Additionally, it allows for potential tax credits, such as the Child Tax Credit, which can further reduce tax liability. To qualify, the mom must pay more than half of the household expenses and provide care for her children.

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3mo ago

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Who adopts single entry system?

Small firms


What are some small business tax information a business owner should know before filing?

You can go to the following website to find all of the tax information you need to know for a small business: http://www.irs.gov/businesses/small/. They have a lot of useful information.


How much does tax software for tax preparers cost?

If you use there are online filing options that are free to $50. The cost depends on how complicated your tax filing method is if you are an individual, married, small business owner, etc. also stands behind you incase of an audit and they also check for errors on your return before you go ahead and efile process.


What is Objective of single entry system?

The objective of the single entry system is to simplify the accounting process for small businesses and sole proprietors by maintaining a simplified record of financial transactions. It primarily focuses on tracking cash inflows and outflows without the need for comprehensive double-entry bookkeeping. This system aids in monitoring an entity's financial status while minimizing complexity and costs associated with accounting. However, it may not provide a complete picture of financial health, making it less suitable for larger businesses.


Does starting a new business help you with your tax refund when filing taxes.?

My best suggestion is to inform yourself with information from different resources concerning what starting a new business will do for your taxes. But to directly answer your question then yes, it will help you in that the IRS has many advantages for the small business owner. Here is their website to learn about it. www.irs.gov/businesses/small/

Related Questions

How were plantation children taught?

most children were taught by their parents, it was mostly boys. As time passed the boys may from small groups and have a single teacher


When subcutaneous injections are given to small children the maximum volume that can be administered in a single injection is?

Only administer amounts up to 0.5 ml subcutaneously to small children - Mosby Nursing Skills AFMS Kx


Is there a time limit on filing small claims in Indiana?

Yes.


What is the URL for filing federal taxes online?

You can file your federal taxes at http://www.irs.gov/efile/index.html. From here, you can choose an option for filing. Some are free and some require a small filing fee.


How much does it cost to file a small claim?

The filing fee varies from jurisdiction to jurisdiction. State lawmakers set the base filing fee; however, in most states, courts can add extra fees which are paid to local dispute resolution centers. Contact your local court for information on the small claims filing fee in your jurisdiction.


If I get taken to small claims court can my immigration status be affected?

No, Small Claims is a civil matter. Immigration status is only affected by criminal matters.


Is there a bed smaller than a twin bed?

Other than the children or "crib" bed (about 27 x 52 inches), there are North American versions of the European single that are narrower than the US single (39 x 75 inches): (converted from metric) European Extra Small Single - 30 x 79 inches European Small Single - 31 x 79 inches


What are the necessary steps for filing taxes for a small business?

The necessary steps for filing taxes for a small business include keeping accurate financial records, determining the business structure, obtaining an Employer Identification Number (EIN), filling out the appropriate tax forms, calculating and paying estimated taxes, and filing the tax return by the deadline.


As the owner of a small business, what do I need to know about filing federal taxes?

All of the information that you will need for filing business taxes can be found online. The official website is www.irs.gov/businesses/.


Della and Jim have two small children?

della and Jim have two small children


Can a business owner refuse to allow small children?

no he is permit to business a small children


Can you feed banana to small children in the evening?

No, but you can feed small children to bananas in the morning.

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