Head of Household
Definition of 'Head of Household'
For tax purposes, the head of household filing status is available to unmarried individuals who pay more than half the cost of maintaining a home for themselves and one or more dependents. The dependents can be children, grandchildren, or other relatives who live with the taxpayer and are under the age of 19 or are full-time students. The taxpayer must also have lived in the home for more than half of the year.
The head of household filing status offers several advantages over the other filing statuses, including a lower tax rate and a higher standard deduction. However, it is important to note that the taxpayer must meet all of the requirements to qualify for this filing status.
In the context of housing, the term "head of household" is often used to refer to an individual who rents or owns a home and is responsible for the majority of the expenses. This can be helpful for landlords and property managers who need to determine who is responsible for paying rent or other fees.
The head of household status can also be used to qualify for government benefits, such as food stamps and housing assistance. In these cases, the government will consider the individual's income and assets to determine if they qualify for the benefits.
Overall, the term "head of household" can have a variety of meanings depending on the context. It is important to understand the specific definition of the term in order to determine if you qualify for the associated benefits.
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