Definition
Head of Household is a filing status for individual United States taxpayers.
Head Of Household
What is ‘Head Of Household’
A status held by the person in a household who is running the household and looking after a qualified dependent. In order to qualify as head of household, the designated household must be located at the person’s home and the person must pay more than 50% of the costs involved in running the household. The benefit of having the head-of-household status is that it can result in lower tax rates in certain jurisdictions.
Explaining ‘Head Of Household’
Typically, the head of a household must also be unmarried. However, in certain situations, a married person can be the head of household. In addition to the requirements listed above, the married person must also file an individual tax return and the spouse of the married person must not have lived with the person for the last six months of the calender year.
Further Reading
- Household finances and the 'Big Five'personality traits – www.sciencedirect.com [PDF]
- Spousal employment and intra-household bargaining power – www.tandfonline.com [PDF]
- The demand for household debt in the USA: evidence from the 1995 Survey of Consumer Finance – www.tandfonline.com [PDF]
- Impact on quality of life of single-parent female head of household economic stress – www.koreascience.or.kr [PDF]
- A multilevel analysis on the determinants of household tourism expenditure – www.tandfonline.com [PDF]
- Household financial savings mobilisation: Empirical evidence from Uganda – academic.oup.com [PDF]
- The decision to become an entrepreneur in Spain: the role of household finances – search.proquest.com [PDF]
- Household debt and financial assets: evidence from Germany, Great Britain and the USA – rss.onlinelibrary.wiley.com [PDF]
- Subjective measures of household preferences and financial decisions – www.sciencedirect.com [PDF]
