head of household

head of household definition - business

head of household

A federal tax filing category for an unmarried taxpayer who paid more than half the cost of maintaining a household that includes at least one dependent. A dependent parent does not have to live in the same household as the taxpayer. Filing as head of household results in a reduced tax liability compared to filing as a single individual.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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