selection of filing status for state and federal income taxes. Individuals may choose single, married filing jointly, married filing separately, or head of household. Businesses may elect C corporation, S corporation, limited partnership, or sole proprietorship status, among others. Taxpayers may choose to calculate their tax returns under two filing status categories to find out which status is more advantageous.
selection of filing status. Individuals may choose single, married filing jointly, married filing separately, or head of household. Businesses may elect C corporation, S corporation, limited partnership, limited liability corporation (LLC), or sole proprietorship status. Taxpayers may choose to figure their tax return under two filing status categories to find out which status is mostadvantageous.
