For most taxpayers, the answer probably seems obvious. But for some, it can be surprisingly tricky to determine which tax-filing status will hold the most advantages.
The choices may involve more thought and number-crunching than might be apparent at first glance. A few issues may be important for some taxpayers to consider before New Year’s Day because of tax-law changes enacted late last year and other factors.
Here are a few suggestions from tax pros on avoiding an identity crisis, and making sure you don’t wind up paying more in taxes than you need to pay.
"Also check if there are any state-tax issues that might affect the calculations", says Sidney Kess, senior consultant at Citrin Cooperman and of counsel to Kostelanetz & Fink.