23 Nov Trump’s tax plan and single parents
Photo: faustlawmarketing/morguefile.comQ. Everyone says they will save taxes under Trump, but I file Head of Household, and it seems like I’ll pay more. Is that correct?
— HoH filer
A. One plan that President-elect Trump has been specific about is how he’d like to change the tax code.
And as you noted, he has said he wants to eliminate the Head of Household filing status.
Under this change you would file as Single instead of Head of Household, said Gail Rosen, a Martinsville-based certified public accountant.
She said you’re correct that this change would potentially cost you more in taxes.
“For example, a single person with one child who earns $50,000 a year would potentially pay approximately $600 more in taxes if they filed as single instead of HOH,” Rosen said.
But Rosen says she believes that change may not happen.
“Although Trump does have the support of both chambers of Congress to help support his proposed tax changes, there is a likelihood that this proposal would not be enacted since it would hurt single parents,” she said.
We’re going to have to wait and see.
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This post was first published in November 2016.
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